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204 East Watauga Avenue
Johnson City TN 37601
MLS #10000670 · Listing Courtesy of eXp Realty, LLC
$1,590,000
Active
8,942
Sq Ft
1920
Built
Property Description
Attention Investors!
Here is your chance to own 16 fully occupied 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.
200 E Watauga is composed of 6-1 bedroom/1 bath apartments. These units have separate electrical meters for each unit. The water/wifi/trash and sewer are paid by the owner but a utility charge is charged to the tenants for compensation.
204 E Watauga is composed of 6-1 bedroom/1bath apartments. These also have separate electrical meters for each unit. These units have separate electrical meters for each unit. The water/wifi/trash and sewer are paid by the owner but a utility charge is charged to the tenants for compensation.
206 E Watauga is composed of 3-(1 bedroom/1 bath) apartments and 1- (3bedroom/1bathroom) apartment.
These units share all utilities(electric/water/internet/trash/sewer) and the three bedroom has this cost factored into the rent, the other three units pay a utility fee to offset the costs since the landlord pays the utilities.
This building has a laundry room for all units to use located on the ground level of building 206. The washer and dryer are currently leased and can be taken over by the new owners.
The owner has spent a great deal 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, updated plumbing, and new appliances as needed. The property is being professionally managed by a local property management company.
Property Facts
Property TypeCommercial Sale
MLS Number10000670
City Taxes$5,442.40
County Taxes$6,872.83
Features & Amenities
Interior
Dishwasher
Dryer
Range
Refrigerator
Satellite Dish
Smoke Detector(s)
Wall Unit(s)
Washer
Exterior
City Street
Composition Roof
Finished Lot(s)
Shingle Roof
Vinyl Siding Exterior
Wood Siding Exterior
Other
Above Average Condition
Leases
Profit/Loss Statement
Public Sewer
Public Water
Rental Rolls
Residential
Septic Tank Sewer
Updated/Remodeled Condition
Directions
From I-81, take Exit 59 onto US-23/I-26 West toward Johnson City. Continue on I-26 and take the Watauga Avenue (SR 400) exit. Follow
Watauga Avenue through downtown, and you'll arrive at 204 East Watauga Avenue on the right in the West Davis Park neighborhood.
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Additional Information
Contract InfoForeclosureNoElectric ServiceOtherYesGeneral Property Description# Parking Spaces9# Restrooms16Annual Lease186,600HOANoLeaseNoLot Size55x115 / 110 X 115 IRR / 55 x 104 IRRStories2Total Finished SqFt8,942Unfinished SqFt0ZoningRO 1HeatingOtherYesSee RemarksYesLocation Tax Legal InfoDeed Book #1,103Deed Page #754RestrictionsOtherYesSale IncludesSee RemarksYes
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