$1,250,000
$1,250,000
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10,368 SqFt
SOLD DATE : 08/27/2021
Key Details
Sold Price $1,250,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 10,368 sqft
Price per Sqft $120
Subdivision Not In Subdivision
MLS Listing ID 9924225
Sold Date 08/27/21
Style Townhouse
Originating Board Tennessee/Virginia Regional MLS
Year Built 1971
Lot Size 1.000 Acres
Acres 1.0
Lot Dimensions 286 x 138
Property Description
This apartment complex was recently renovated down to the studs. All new electrical, plumbing and HVAC was installed. This included the expensive items like water heaters and heat pumps. A new metal roof was installed on each building. The interior is all in great shape. Flooring is ceramic tile and hardwood. No carpet. All this renovation work has resulted in a quality property with very low expenses and strong cash flow. Complex consists of 2 buildings. Each building have 4 2BR/1BA townhouses that currently rent for $750/mo as well as 4 1BR/BA lower units that rent for $550/mo (16 units total). Occupants are responsible for all utilities. Rents are about due for an increase. The 2BR units have full kitchens equipped with stoves, dishwashers, microwaves and refrigerators. The 1 BR units have stoves and refrigerators. The neutral colors and finishes make these attractive units easy to rent. There are separate parking areas for each building. There is an accessory building onsite for supplies and lawn equipment. There is also room on the property to add amenities. This complex is conveniently located just minutes from ETSU and JCMC. Please contact listing agent for all showings and 24 hour notice is required. Financials are are available upon request.
Location
State TN
County Washington
Community Not In Subdivision
Area 1.0
Zoning Commercial
Direction Take West Walnut Street to Leach Drive. Turn left on Leach Drive. Buildings are on the right.
Rooms
Other Rooms Outbuilding
Basement Block, Concrete
Ensuite Laundry Electric Dryer Hookup, Washer Hookup
Interior
Interior Features Open Floorplan, Remodeled
Laundry Location Electric Dryer Hookup,Washer Hookup
Heating Heat Pump, Central
Cooling Central Air, Heat Pump
Flooring Ceramic Tile, Hardwood
Window Features Double Pane Windows
Appliance Dishwasher, Electric Range, Microwave, Refrigerator
Heat Source Heat Pump, Central
Laundry Electric Dryer Hookup, Washer Hookup
Exterior
Garage Asphalt, Parking Spaces
Utilities Available Cable Available, Cable Connected
Roof Type Shingle
Porch Covered, Deck
Parking Type Asphalt, Parking Spaces
Building
Lot Description Sloped, Cleared
Entry Level Two
Foundation Block, Slab
Sewer Public Sewer
Water Public
Architectural Style Townhouse
Structure Type Brick,Vinyl Siding
New Construction No
Schools
Elementary Schools Cherokee
Middle Schools Liberty Bell
High Schools Science Hill
Others
Senior Community No
Tax ID 061b A 023.00 000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Bought with Jay Goodson • REMAX Checkmate, Inc. Realtors
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "