$1,025,000
Johnson City, TN 37601
MLS# 403167
Status: Closed
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Property Description
Great investment property with return on investment! Offering 29 units all 1 bedroom with good track record. Priced at 1,100,000. Returns at 11.24 cap rate which is strong in any market. Building is brick exterior with architectural shingle roof. List agent is also owner. The Name Aspen Ridge Properties does not convey with the property. All information herein deemed reliable but not guaranteed. Buyer/Buyer Agent to verify.
Details
Maps
Documents
Location, Tax & Legal Info
Unit #: 0
Parcel ID: 032.00
Deed Book #: R592
Deed Page #: 1212
City Taxes: 6900.01
County Taxes: 8688.17
Contract Info
Foreclosure: No
Short Sale: No
Auction: No
Status: Closed
Listing Price: 1100000
Current Price: $1,025,000
Listing Date: 2018-03-02
General Property Description
Lot Dimensions: 7.45 acres
Acres: 7.45
Zoning: Multi Family
# Buildings: 1
Elementary School: Mountain View
# of Units: 28
Middle School: Liberty Bell
High School: Science Hill
Stories: 2
Property Sub-Type: Multi Family
Year Built: 1977
Remarks & Misc
Directions: Take Market Street exit from I-26 East, turn left off of exit and right onto Legion St. Left onto King Springs Rd. Left on Bell Ridge Rd. Property on the left.
Income and Expenses
Annual Operating Expenses: 61863
Vacancy Rate %: 5
Gross Annual Income: 170748
Exterior Finish
Brick: 1
Unit 1
# Units: 29
# Bedrooms: 29
# Bathrooms: 29
SqFt: 20097
Roof
Shingle: 1
Levels
Three Or More: 1
Window Features
Double Pane Windows: 1
Interior Features
Laminate Counters: 1
Heating
Baseboard: 1
Info Available
Appraisal: 1
AC
Wall Unit(s): 1
Utilities
Cable Available: 1
Water
Public: 1
Sewer
Public Sewer: 1
Appliances
Electric Range: 1
Refrigerator: 1
Topography/Lot Description
Sloped: 1
Flooring
Carpet: 1
Vinyl: 1
Easements
None: 1
Financing
Cash: 1
Conventional: 1
Parking Features
Asphalt: 1
Existing Finance
Conventional: 1
Porch/Patio/Deck
Breezeway: 1
Walls
Drywall: 1
Expenses Include
Electric: 1
Property Insurance: 1
Taxes Personal Property: 1
Water/Sewer: 1
Location Tax Legal Info
Street #: 1112
Street Name: King Springs
St Suffix: Road
County: Washington
State/Province: TN
Zip Code: 37601
Area: 303 - SE Johnson City
Status Change Info
Date Pending: 2018-05-15
Sold Date: 2018-07-26
Sold Price: $1,025,000
Property Features
Levels: Three Or More
Exterior Finish: Brick
Interior Features: Laminate Counters
Appliances: Electric Range; Refrigerator
Flooring: Carpet; Vinyl
Roof: Shingle
Parking Features: Asphalt
Heating: Baseboard
Water: Public
Window Features: Double Pane Windows
Sewer: Public Sewer
AC: Wall Unit(s)
Utilities: Cable Available
Walls: Drywall
Info Available: Appraisal
Easements: None
Financing: Cash; Conventional
Existing Finance: Conventional
Expenses Include: Electric; Property Insurance; Taxes Personal Property; Water/Sewer
Property Disclosure 
Listing Office: Crye-Leike Realtors
Last Updated: September - 03 - 2024
Information deemed reliable but not guaranteed.