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Blue Ridge Properties Listing
500 West Chestnut Street, Johnson City, TN 37604 (MLS #9967034)
Basic Information:
Bedrooms: 0
Full Bathrooms: 0
Half Bathrooms: 0
Type: Multi-Family
Sub Type: Multi-Family
MLS Number: 9967034
Lot Acreage: 0.37000
Living Area: 0
Year Built:1960
Elementary School: South Side
Middle School: Liberty Bell
High School: Science Hill
Public Remarks: The eclectic Tree Streets are one of the most sought-after areas in East Tennessee. A tree-lined residential neighborhood within biking distance of ETSU, Quillen Med School, Bill Gatton School of Pharmacy, plus all that Downtown Johnson City has to offer. Unique events make the 'Tree Streets' feel like home. Property is within walking distance to Veterans Park (and South Side Elementary), a few favorites to catch: Music in the Park on Sundays, Kickball and a Covered Dish, Earth Day Bike Parade, Chili Cook-off. Turn-key, high cap properties and multi-families in the Tree Streets are scarce on their own- combining the two is truly a rare opportunity. 500 W Chestnut not only produces a 9% cap, but has immediate potential to increase, without force, through a conservative rental rate adjustment on two of the units.
Listing Courtesy:Bridge Pointe Real Estate Jonesborough
More Listing Info:
AC:Ceiling Fan(s): true
AC:Central Air: true
AC:Window Unit(s): true
Appliances:Range: true
Appliances:Refrigerator: true
Contract Info:Foreclosure: No
Easements:None12: true
Expenses Include:Other40: true
Expenses Include:Taxes Real Estate: true
Expenses Include:WaterSewer: true
Exterior Finish:Brick4: true
Flooring:Hardwood: true
Flooring:Laminate: true
Flooring:Luxury Vinyl: true
General Property Description:# Buildings: 1
General Property Description:# of Units: 4.0
General Property Description:Acres: 0.37
General Property Description:Elementary School3: South 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: 93.90 X 167.3 IRR
General Property Description:Middle School2: Liberty Bell
General Property Description:Total Units: 4
General Property Description:Zoning2: R2
Heating:Baseboard: true
Heating:Central: true
Income and Expenses:Annual Operating Expenses: 10852
Income and Expenses:Gross Annual Income: 48000
Income and Expenses:Net Annual Income: 37147
Income and Expenses:Vacancy Rate %: 0.0
Laundry Features:Electric Dryer Hookup: true
Laundry Features:Washer Hookup: true
Location Tax Legal Info:City Taxes: 1751.11
Location Tax Legal Info:County Taxes: 1901.46
Location Tax Legal Info:Deed Book #: 1148
Location Tax Legal Info:Deed Page #: 139224000312
Parking Features:Asphalt2: true
Remarks Misc:Directions3: From Downtown Johnson City, turn onto Buffalo Street, Turn Right on W Chestnut Street, after 0.3 miles, 500 W Chestnut Street is on the Right.
Remarks Misc:Public Remarks2: The eclectic Tree Streets are one of the most sought-after areas in East Tennessee. A tree-lined residential neighborhood within biking distance of ETSU, Quillen Med School, Bill Gatton School of Pharmacy, plus all that Downtown Johnson City has to offer. Unique events make the 'Tree Streets' feel like home. Property is within walking distance to Veterans Park (and South Side Elementary), a few favorites to catch: Music in the Park on Sundays, Kickball and a Covered Dish, Earth Day Bike Parade, Chili Cook-off. Turn-key, high cap properties and multi-families in the Tree Streets are scarce on their own- combining the two is truly a rare opportunity. 500 W Chestnut not only produces a 9% cap, but has immediate potential to increase, without force, through a conservative rental rate adjustment on two of the units.
Sewer:Public Sewer: true
Structure Type:House: true
Style:Raised Ranch2: true
TopographyLot Description:Rolling Slope: true
Unit 1:# Bathrooms5: 1.0
Unit 1:# Bedrooms3: 3
Unit 1:Monthly Rent: 1200
Unit 2:# Bathrooms4: 1.0
Unit 2:# Bedrooms4: 1
Unit 2:Monthly Rent2: 775
Unit 3:# Bathrooms3: 1.0
Unit 3:# Bedrooms5: 1
Unit 3:Monthly Rent3: 775
Unit 4:# Bathrooms2: 1.0
Unit 4:# Bedrooms6: 3
Unit 4:Monthly Rent4: 1250
Water:Public: true
