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Bedrooms: 0
Full Bathrooms: 0
Half Bathrooms: 0
Type: Multi Family
Sub Type: Multi Family
MLS Number: 9975107
Lot Acreage: 0.09000
Living Area: 0
Year Built:1920
Elementary School: Lincoln
Middle School: Sevier
High School: Dobyns Bennett
Public Remarks: Great Investment Opportunity! Discover the charm and potential of this historic building, a proven income-generator with a strong track record as a successful apartment complex. Boasting 100% occupancy nearly year-round and all units currently occupied, this property is a rare find. Formerly known as the Palmer Building, this versatile property boasts a rich history as a pharmacy storefront, medical offices, and more. It offers endless possibilities, whether for office spaces, a restaurant, or any venture you envision. The property features 11 units, generating $6,700 monthly or $80,400 annually. These include one 2-bedroom, 1-bath unit and ten 1-bedroom, 1-bath units, totaling 12 bedrooms and 11 bathrooms. Located within walking distance of Dobyns-Bennett High School and just minutes from East Stone Drive's amenities, the property combines convenience with an unbeatable location. The owner pays utilities and there are no HOA or CAM fees. This property offers excellent cash flow, with the potential for even greater returns with some TLC. Whether you're expanding your portfolio or launching a new endeavor, this is an opportunity you won't want to miss. Rent rolls and expenses are available upon request.
Listing Courtesy:Greater Impact Realty Jonesborough
AC:Window Unit(s): true
Appliances:See Remarks5: true
Basement:Concrete3: true
Basement:Sump Pump: true
Contract Info:Foreclosure: No
Easements:None12: true
Expenses Include:See Remarks39: true
Expenses Include:Utilities2: true
Exterior Features:See Remarks23: true
Exterior Finish:Brick4: true
Flooring:Carpet: true
Flooring:Laminate: true
Flooring:Vinyl: true
General Property Description:# Buildings: 1
General Property Description:# of Units: 11.0
General Property Description:Acres: 0.09
General Property Description:Elementary School3: Lincoln
General Property Description:High School3: Dobyns Bennett
General Property Description:HOA YN: No
General Property Description:Home Warranty2: No
General Property Description:Lot Dimensions: 25 X 145
General Property Description:Middle School2: Sevier
General Property Description:Stories2: 2
General Property Description:Total Units: 11
General Property Description:Zoning2: Commercial
Heating:Radiant: true
Info Available:Rental Rolls: true
Interior Features:See Remarks4: true
Levels:Two: true
Location Tax Legal Info:Block: 8
Location Tax Legal Info:City Taxes: 1580.26
Location Tax Legal Info:County Taxes: 1902.82
Location Tax Legal Info:Deed Book #: 3456
Location Tax Legal Info:Deed Page #: 899
Location Tax Legal Info:Lot #: P 6
Property Condition:Below Average: true
Remarks Misc:Directions3: On I-26 W, take exit 4 for TN-92 S. Continue straight onto Old Wilcox Dr. Continue onto Sheridan Square/S Wilcox Dr. Turn Right onto E Center St. 2020 E Center St will be on the left.
Remarks Misc:Public Remarks2: Great Investment Opportunity! Discover the charm and potential of this historic building, a proven income-generator with a strong track record as a successful apartment complex. Boasting 100% occupancy nearly year-round and all units currently occupied, this property is a rare find. Formerly known as the Palmer Building, this versatile property boasts a rich history as a pharmacy storefront, medical offices, and more. It offers endless possibilities, whether for office spaces, a restaurant, or any venture you envision. The property features 11 units, generating $6,700 monthly or $80,400 annually. These include one 2-bedroom, 1-bath unit and ten 1-bedroom, 1-bath units, totaling 12 bedrooms and 11 bathrooms. Located within walking distance of Dobyns-Bennett High School and just minutes from East Stone Drive's amenities, the property combines convenience with an unbeatable location. The owner pays utilities and there are no HOA or CAM fees. This property offers excellent cash flow, with the potential for even greater returns with some TLC. Whether you're expanding your portfolio or launching a new endeavor, this is an opportunity you won't want to miss. Rent rolls and expenses are available upon request.
Roof:Rubber: true
Sewer:Public Sewer: true
Structure Type:Mixed Use: true
Structure Type:Multi Family: true
Style:See Remarks40: true
TopographyLot Description:Level2: true
Unit 1:# Bathrooms5: 1.0
Unit 1:# Bedrooms3: 2
Unit 1:# Units: 1
Unit 1:Monthly Rent: 700
Unit 2:# Bathrooms4: 1.0
Unit 2:# Bedrooms4: 1
Unit 2:# Units2: 6
Unit 2:Monthly Rent2: 650
Unit 3:# Bathrooms3: 1.0
Unit 3:# Bedrooms5: 1
Unit 3:# Units3: 3
Unit 3:Monthly Rent3: 550
Unit 4:# Bathrooms2: 1.0
Unit 4:# Bedrooms6: 1
Unit 4:# Units4: 1
Unit 4:Monthly Rent4: 450
Walls:Drywall: true
Walls:Paneling: true
Walls:Plaster: true
Water:Public: true