Basic Information:

Bedrooms: 0

Full Bathrooms: 0

Half Bathrooms: 0

Type: Multi Family

Sub Type: Quadruplex

MLS Number: 9990357

Lot Acreage: 1.30000

Living Area: 0

Year Built:1965

Elementary School: Woodland Elementary

Middle School: Liberty Bell

High School: Science Hill

Public Remarks: 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

Listing Courtesy:REMAX Checkmate, Inc. Realtors

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