Property Description

Listing Status

• More Listing Info

  AC:Ceiling Fan(s)	true
  AC:Central Air	true
  Amenities:Landscaping	true
  Contract Info:Foreclosure	No
  Easements:Other7	true
  Exterior Finish:Brick4	true
  Exterior Finish:Vinyl Siding	true
  Flooring:Carpet	true
  Flooring:Laminate	true
  Flooring:Other6	true
  Foundation:Block6	true
  General Property Description:# Buildings	3
  General Property Description:# Fireplaces	0.0
  General Property Description:# of Units	9.0
  General Property Description:Acres	1.3
  General Property Description:Elementary School3	Woodland Elementary
  General Property Description:High School3	Science Hill
  General Property Description:HOA YN	No
  General Property Description:Home Warranty2	No
  General Property Description:Lot Dimensions	58000
  General Property Description:Middle School2	Liberty Bell
  General Property Description:Stories2	2
  General Property Description:Total Units	9
  General Property Description:Zoning2	B1
  Heating:Central	true
  Income and Expenses:Annual Operating Expenses	39600
  Income and Expenses:Gross Annual Income	114000
  Income and Expenses:Net Annual Income	77856
  Income and Expenses:Vacancy Rate %	50.0
  Info Available:Floor Plan	true
  Info Available:Plat	true
  Info Available:Rental Rolls	true
  Interior Features:KitchenDining Combo	true
  Interior Features:Restored	true
  Levels:Bi-Level	true
  Location Tax Legal Info:City Taxes	818.83
  Location Tax Legal Info:County Taxes	1015.74
  Location Tax Legal Info:Deed Book #	901
  Location Tax Legal Info:Deed Page #	1278
  Location Tax Legal Info:Lot #	1
  Parking Features:Asphalt2	true
  Property Condition:Above Average	true
  Property Condition:Under Construction	true
  Property Condition:UpdatedRemodeled	true
  Remarks Misc:Directions3	Corner of Pactolas and Knob Creek Road in Johnson City, between Sunset and State of Franklin. Property is commercial 4748 sq ft commercial space, and 8 next door apartments.
  Remarks Misc:Public Remarks7	Passive income or owner operator! This portfolio consists of 8 units of multifamily being rented out at $1250 per month, two bed, one bath, in newly renovated units, as well as adjacent Commercial building with new roof and renovated exterior. The Old Norris Bicycle building, and adjacent quadplexes are being sold together ONLY! This is your opportunity to diversity your investments with a commercial piece, or put your business into a 4748 sq ft Commercial space all your own, and keep the apartments as rentals. Subdividing of apartments from new condos is underway, and will put the 8 units on approximately one acre of their own land, more or less, with large back yard area. Massive renovations have taken place, and apartments are being re-filled at this time, so see agent for newest and latest rent roll as apartments are completed. Gross income is based on only half of the units filled, as the final 4 are being finished up. Proforma gross income will be $114,000 per year. Lending would be based on proforma at this time. Units do have washer dryer hook up in each unit. Apartments have been completely renovated throughout the exterior, including siding, roof, plumbing, damaged walls, new kitchens, and brand new and beautiful decking. Location is prime, central to town, near shopping and schools, and will remain a conveniently located and beautiful corridor for years to come! Details available upon request from qualified buyers; all info to be verified by buyers/buyers agent. R# 1886
  Sewer:Public Sewer	true
  Structure Type:Quadruplex	true
  Style:See Remarks40	true
  TopographyLot Description:Level2	true
  Unit 1:# Bathrooms5	1.0
  Unit 1:# Bedrooms3	2
  Unit 1:# Units	4
  Unit 1:Monthly Rent	1250
  Unit 1:SqFt6	829
  Unit 2:# Bathrooms4	1.0
  Unit 2:# Bedrooms4	2
  Unit 2:# Units2	4
  Unit 2:Monthly Rent2	1250
  Unit 2:SqFt5	949
  Unit 3:# Bathrooms3	1.0
  Unit 3:# Bedrooms5	2
  Unit 4:# Bathrooms2	1.0
  Unit 4:# Bedrooms6	2
  Walls:Drywall	true
  Walls:Paneling	true
  Water:Public	true
  Window Features:Double Pane Windows	true
  Videos:	(none)
  Virtual Tours:	(none)

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