$1,200,000
Johnson City, TN 37615
MLS# 418921
Status: Closed
1 / 12
Property Description
Investment opportunity! This is two properties sold as a portfolio: 1st property in the portfolio are the Cascade apartments, at 131 Bob Fitz, 15 units in 3 buildings. 12 units have 2 bedroom and 1.5 bath, and are two level townhomes. Two units have 2 bed/1 bath. One unit has one bed/1 bath. Those are one level. All but the one bedroom has Washer/Dryer hookups. The second property is 2806 2804 Plymouth Rd, located in south Johnson city, just off of S. Roan St. well maintained, and has 14 units, all one bed/one bath, all same floor plan. NOI for whole portfolio in 2018 is $95,675. But in 2019 first quarter, NOI actual, as of March 30th, NOI actual is at $26,319.71.Multiplied by 4 quarters puts 2019 NOI at $105,279, which puts cap rate at current listing price at 7.6% cap rate for both properties. Excellent investment property, stays rented, good locations. tenants pay electricity and water at Cascade (Fitz) and tenants pay electricity at Plymouth. All information subject to change, and to be verified by buyer and buyer's agent.
Details
Maps
Documents
Location, Tax & Legal Info
Unit #: 29
Parcel ID: 019 027.04
City Taxes: 2940
County Taxes: 9054
Contract Info
Foreclosure: No
Short Sale: No
Auction: No
Status: Closed
Listing Price: 1389000
Current Price: $1,200,000
Listing Date: 2019-03-20
General Property Description
Lot Dimensions: 1.84
Acres: 1.84
Zoning: R
# Buildings: 5
Elementary School: Ridgeview
# of Units: 29
Middle School: Ridgeview
High School: Daniel Boone
Property Sub-Type: Multi Family
Year Built: 1996
Remarks & Misc
Directions: Cascadeis in Gray, left off exit, right on Bob Fitz, property on left. Plymouth is south JC, heading south on S Roan St, turn left on Plymouth, property is on the right. (no Sign)
Property Condition
Above Average: 1
Income and Expenses
Vacancy Rate %: 3
Net Annual Income: 95675
Exterior Finish
Brick: 1
Style
Townhouse: 1
Levels
One: 1
AC
Central Air: 1
Water
Public: 1
Sewer
Public Sewer: 1
Easements
None: 1
Location Tax Legal Info
Street #: 131
St Direction: North
Street Name: Bob Fitz
St Suffix: Road
County: Washington
State/Province: TN
Zip Code: 37615
Area: 307 - Gray/Boones Creek
Status Change Info
Date Pending: 2019-04-18
Sold Date: 2019-07-01
Sold Price: $1,200,000
Property Features
Property Condition: Above Average
Style: Townhouse
Levels: One
Exterior Finish: Brick
Water: Public
Sewer: Public Sewer
AC: Central Air
Easements: None
Docs 
Listing Office: REMAX Checkmate, Inc. Realtors
Last Updated: September - 03 - 2024
Information deemed reliable but not guaranteed.