Property Description

• More Listing Info

  AC:See Remarks11	true
  AC:Window Unit(s)	true
  Appliances:Refrigerator	true
  Construction:Site Built2	true
  Contract Info:Foreclosure	No
  Easements:None12	true
  Expenses Include:Property Management	true
  Expenses Include:Repairs and Maint	true
  Expenses Include:Taxes Real Estate	true
  Expenses Include:Utilities2	true
  Expenses Include:WaterSewer	true
  Exterior Features:Balcony	true
  Exterior Finish:Vinyl Siding	true
  Exterior Finish:Wood Siding	true
  Flooring:Hardwood	true
  Flooring:Laminate	true
  Flooring:Luxury Vinyl	true
  Flooring:Vinyl	true
  General Property Description:# Buildings	3
  General Property Description:# of Units	16.0
  General Property Description:Acres	0.54
  General Property Description:Elementary School3	North Side
  General Property Description:High School3	Science Hill
  General Property Description:HOA YN	No
  General Property Description:Home Warranty2	No
  General Property Description:Lot Dimensions	.54 acres
  General Property Description:Middle School2	Liberty Bell
  General Property Description:Stories2	2
  General Property Description:Total Units	16
  General Property Description:Zoning2	RO 1
  Heating:Other12	true
  Heating:See Remarks10	true
  Info Available:Leases2	true
  Info Available:ProfitLoss Statement	true
  Info Available:Rental Rolls	true
  Interior Features:Remodeled	true
  Interior Features:Smoke Detector(s)	true
  Levels:Two	true
  Location Tax Legal Info:City Taxes	4459.25
  Location Tax Legal Info:County Taxes	5541.84
  Location Tax Legal Info:Deed Book #	1103
  Location Tax Legal Info:Deed Page #	754
  Other Rooms:Laundry	true
  Parking Features:Parking Spaces	true
  PorchPatioDeck:Porch	true
  Property Condition:Above Average	true
  Remarks Misc:Directions3	From I-26 E, take exit 22, R at ramp. Take Left on Welbourne St, see property on Left.
  Remarks Misc:Public Remarks2	Attention Investors! Here is your chance to own 16 units in Johnson City, Tennessee. This complex is less than 3 miles from ETSU and less than 5 miles from Milligan University. This portfolio includes 3 separate buildings that have been converted into apartments. The addresses are: 200/204/206 E Watauga Ave. All together the property brought in an annual gross income of $138,820.77 for 2023. More units have since been remodeled and with current market rents, this property's forecasted annual gross income is $182,000. 200 E Watauga is composed of 6-1 bedroom/1 bath apartments. These units have separate electrical meters for each unit. 204 E Watauga is composed of 6-1 bedroom/1bath apartments. These also have separate electrical meters for each unit. 206 E Watauga is composed of 4 units with shared utilities. 1-3 bedroom/1bath apartment 3-1bedroom/1bath apartment The owner has spent over 200k in capital expenditures improving the units. This includes completely remodeling 6 units with new flooring, new paint, new updated bathrooms, new appliances, new custom cabinetry, new countertops, and new PTAC units when needed. The remaining units were updated/refreshed with new floor, new paint, and new appliances as needed. The property is being professionally managed by a local property management company (Casa Haven Property Management) and would be willing to continue to work with the new owners for a smooth transition. For initial showings buyers may see vacant units, and will be able to get into all units during the inspection.
  Roof:Shingle	true
  Sewer:Public Sewer	true
  Showing Instructions:24 Hour Notice	true
  Style:Other3	true
  Style:See Remarks2	true
  TopographyLot Description:Level2	true
  Unit 1:# Bathrooms5	6.0
  Unit 1:# Bedrooms3	6
  Unit 1:# Units	6
  Unit 1:SqFt6	3346
  Unit 2:# Bathrooms4	6.0
  Unit 2:# Bedrooms4	6
  Unit 2:# Units2	6
  Unit 2:SqFt5	3774
  Unit 3:# Bathrooms3	4.0
  Unit 3:# Bedrooms5	6
  Unit 3:# Units3	4
  Unit 3:SqFt2	1822
  Unit 4:# Units4	0
  View:Mountain(s)	true
  Walls:Drywall	true
  Walls:Paneling	true
  Water:Public	true
  Videos:	(none)
  Virtual Tours:	(none)

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