Basic Information:

Bedrooms: 0

Full Bathrooms: 0

Half Bathrooms: 0

Type: Multi-Family

Sub Type: Multi-Family

MLS Number: 9962524

Lot Acreage: 0.54000

Living Area: 0

Year Built:1920

Elementary School: North Side

Middle School: Liberty Bell

High School: Science Hill

Public Remarks: 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 $198,900.00. 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.

Listing Courtesy:True North Real Estate

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 $198,900.00. 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