$4,500,000
Johnson City, TN 37604
MLS# 9944966
Status: Closed
5786 sqft
1 / 32
Property Description
Fantastic Investment Opportunity- Maple Crest Independant Living consists of 16 Patio Homes, 5 Units with 1,737 sq.ft. & a two car garage, 11 Units with 1,559 sq.ft. & 1 car garage. Social Club House with 2,490 sq.ft which includes a large kitchen facility and open gathering areas. There is also an additional 9.18 acres of property that is on grade and ready to develop that adjoins the existing duplex's and club house. The additional property is currently Zoned R5 which will allow a maximum of 22 units per acre. This opportunity doesn't come along very often where you can have a wonderful rental income base while building out and selling additional patio homes or developing a multi-story structure. The demand for senior housing is at an all- time high. This property is conveniently located close to I-26, hospitals, grocery stores, drug stores, ETSU and it all comes with beautiful mountain views. ** New patio homes would pre- sell out very quickly. Please see the property survey, building footprints and aerial photos under Documents. The annual taxes for the remaining 8.2 acres : City $4,268.16 & County $5366.40
Details
Maps
Location, Tax & Legal Info
Street #: 211
Street Name: University
St Suffix: Parkway
County: Washington
State/Province: TN
Zip Code: 37604
Subdivision: Not In Subdivision
Deed Book #: 1062
Deed Page #: 2611
Parcel ID: 054l C 002.00
City Taxes: 28273.04
County Taxes: 35137.02
Contract Info
Status: Closed
Listing Price: 5250000
Current Price: $4,500,000
List Price/SqFt: 907.36
Listing Date: 2022-10-25
Buyer Broker: Yes
Buyer Broker Comm: 4
Buyer Broker Comm Type: %
Foreclosure: No
Short Sale: No
Auction: No
General Property Description
Lot Dimensions: 721' x 625' IRR
Acres: 14.3
Zoning: R5
Property Sub-Type: Duplex
# Buildings: 8
Total Units: 16
Year Built: 2005
Elementary School: South Side
Middle School: Indian Trail
High School: Science Hill
Home Warranty: No
Total SqFt: 5786
Remarks & Misc
Public Remarks: Fantastic Investment Opportunity- Maple Crest Independant Living consists of 16 Patio Homes, 5 Units with 1,737 sq.ft. & a two car garage, 11 Units with 1,559 sq.ft. & 1 car garage. Social Club House with 2,490 sq.ft which includes a large kitchen facility and open gathering areas. There is also an additional 9.18 acres of property that is on grade and ready to develop that adjoins the existing duplex's and club house. The additional property is currently Zoned R5 which will allow a maximum of 22 units per acre. This opportunity doesn't come along very often where you can have a wonderful rental income base while building out and selling additional patio homes or developing a multi-story structure.
The demand for senior housing is at an all- time high. This property is conveniently located close to I-26, hospitals, grocery stores, drug stores, ETSU and it all comes with beautiful mountain views. ** New patio homes would pre- sell out very quickly. Please see the property survey, building footprints and aerial photos under Documents. The annual taxes for the remaining 8.2 acres : City $4,268.16 & County $5366.40
Directions: Take 1-26 South and Exit off of University Parkway. Turn left onto University Parkway stay straight thru the traffic light and then turn left into Maplecrest Independant Living.
For Sale Sign on Property.
Status Change Info
Date Pending: 2023-03-27
Sold Date: 2023-06-05
Sold Price: $4,500,000
Unit 1
# Units: 5
# Rooms: 7
# Bedrooms: 2
# Bathrooms: 2
SqFt: 1737
Unit 2
# Units: 11
# Rooms: 6
# Bedrooms: 2
# Bathrooms: 2
SqFt: 1559
Unit 3
# Units: 1
# Bedrooms: 2
# Bathrooms: 2
SqFt: 2490
Property Features
Property Condition: Above Average
Style: Patio Home
Levels: One
Exterior Finish: HardiPlank Type; Stone
Amenities: Landscaping
Interior Features: Eat-in Kitchen; Entrance Foyer; Open Floorplan; Smoke Detector(s); Walk-In Closet(s); See Remarks
Exterior Features: Other
Appliances: Dishwasher; Disposal; Microwave; Range; Refrigerator
Flooring: Carpet; Ceramic Tile; Laminate; Luxury Vinyl; See Remarks
Roof: Shingle
Other Rooms: Breakfast
Parking Features: Asphalt; Garage Door Opener
Porch/Patio/Deck: Front Porch; Rear Patio; Rear Porch
Topography/Lot Description: Level; See Remarks
View: Mountain(s)
Heating: Central; Natural Gas; See Remarks
Laundry Features: Gas Dryer Hookup
Water: Public
Window Features: Insulated Windows; Window Treatments
Sewer: Public Sewer
Fencing: Back Yard
Foundation: Slab
AC: Central Air
Utilities: Cable Available
Construction: Site Built
Walls: Drywall
Info Available: Aerial; Floor Plan; Survey
Easements: Rec. Right of Way
Financing: Other
Existing Finance: None
Expenses Include: Lawn Maint; Taxes Real Estate; Water/Sewer
Community Features: Clubhouse
Listing Office: Lefemine Commercial Properties, LLC
Last Updated: June - 05 - 2023
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.