$1,900,000
Johnson City, TN 37604
MLS# 9962738
Status: Pending
12350 sqft


Johnson City, TN 37604
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Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604 Johnson City, TN 37604

Property Description
Units consist of 6-3/2, 7-1/1, and 1-3/2. Tenants pay utilities. Welcome to 167 & 171 Minga Drive, an exceptional investment opportunity nestled in the heart of Johnson City, TN. This meticulously maintained 14-unit apartment building presents a prime chance to expand your portfolio in one of Tennessee's most thriving rental markets. Features include. Prime Location: Conveniently situated in a sought-after neighborhood of Johnson City, offering easy access to local amenities, schools, and major transportation routes. Well-Appointed Interiors: Modern finishes and thoughtful design elements adorn the interiors, creating a welcoming atmosphere for residents. Income Potential: With a consistent demand for rental properties in Johnson City, this building promises a lucrative income stream for investors. Low Vacancy Rate: Benefit from a historically low vacancy rate, ensuring steady occupancy and minimal turnover. Ample Parking: On-site parking facilities provide convenience and ease for residents, enhancing the appeal of the property. Strong Rental History: A proven track record of reliable rental income underscores the investment potential of this property. Location Highlights: Close proximity to shopping centers, restaurants, and entertainment options, offering residents a vibrant lifestyle Easy access to major employers and educational institutions, appealing to a diverse tenant base. Nearby parks and recreational facilities provide opportunities for outdoor enjoyment and leisure activities. Don't miss out on this rare opportunity to acquire a well-positioned apartment building in Johnson City's thriving rental market. Whether you're a seasoned investor or looking to start your real estate portfolio, 167 & 171 Minga Drive presents an excellent chance to capitalize on the demand for quality rental housing in the area. All information herein deemed reliable but subject to buyers verification.

Details
Location, Tax & Legal Info
County: Washington
State/Province: TN
Zip Code: 37604
Area: 301 - NW Johnson City
Lot #: 5
Deed Book #: R116
Deed Page #: I1950
Parcel ID: 053h A 036.00 053h A 035.00
County Taxes: 5364.68
Contract Info
Status: Pending
Listing Price: 1900000
Current Price: $1,900,000
List Price/SqFt: 153.85
Listing Date: 2024-03-04
Buyer Broker: Yes
Buyer Broker Comm: 1.5
Buyer Broker Comm Type: %
Foreclosure: No
Short Sale: No
Auction: No
General Property Description
Lease: Yes
Lot Size: 200 x 308
Acres: 1.4
Zoning: R3
Year Built: 1994
Total SqFt: 12350
Total SqFt Finished: 11500
Total SqFt Unfinished: 850
HOA Y/N: No
Annual Lease $: 181440
Remarks & Misc
Public Remarks: Units consist of 6-3/2, 7-1/1, and 1-3/2. Tenants pay utilities. Welcome to 167 & 171 Minga Drive, an exceptional investment opportunity nestled in the heart of Johnson City, TN. This meticulously maintained 14-unit apartment building presents a prime chance to expand your portfolio in one of Tennessee's most thriving rental markets. Features include. Prime Location: Conveniently situated in a sought-after neighborhood of Johnson City, offering easy access to local amenities, schools, and major transportation routes. Well-Appointed Interiors: Modern finishes and thoughtful design elements adorn the interiors, creating a welcoming atmosphere for residents. Income Potential: With a consistent demand for rental properties in Johnson City, this building promises a lucrative income stream for investors. Low Vacancy Rate: Benefit from a historically low vacancy rate, ensuring steady occupancy and minimal turnover. Ample Parking: On-site parking facilities provide convenience and ease for residents, enhancing the appeal of the property. Strong Rental History: A proven track record of reliable rental income underscores the investment potential of this property. Location Highlights: Close proximity to shopping centers, restaurants, and entertainment options, offering residents a vibrant lifestyle Easy access to major employers and educational institutions, appealing to a diverse tenant base. Nearby parks and recreational facilities provide opportunities for outdoor enjoyment and leisure activities. Don't miss out on this rare opportunity to acquire a well-positioned apartment building in Johnson City's thriving rental market. Whether you're a seasoned investor or looking to start your real estate portfolio, 167 & 171 Minga Drive presents an excellent chance to capitalize on the demand for quality rental housing in the area. All information herein deemed reliable but subject to buyers verification.
Directions: Knob Creek Rd to Claude Simmons Rd. 1.1 left onto Claude Simmons Rd. 1 mi left onto Minga Dr. 300 ft on right.
Status Change Info
Date Pending: 2024-04-04
Property Features
Property Condition: Above Average
Business Type: Residential
Exterior Finish: Brick; Vinyl Siding
Other Equipment: Refrigeration; Smoke Detector(s)
Roof: Shingle
Electric Service: 220 Volts
Development Status: Other
Heating: Central
AC: Central Air
Water: Public
Sewer: Public Sewer
Road Access: Dedicated
Info Available: Leases; Profit/Loss Statement; Rental Roles
Restrictions: See Remarks
Possession: See Remarks
Financing: Cash; Conventional
Sale Includes: Business Only

Listing Office: KW Johnson City

Last Updated: April - 04 - 2024


The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Information deemed reliable but not guaranteed.


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