$1,152,500
2805 West Walnut Street
Johnson City, TN 37604
MLS# 9918404
Status: Closed

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Property Description
22-Unit apartment complex in prime location within 5 minutes of Johnson City Medical Center and downtown Johnson City. Since acquisition, over $600K in building upgrades have been completed by certified contractors. This apartment complex has two buildings. One building has ten units all of which are 1-bedroom units. The second building has twelve units which include two studios and ten 2-bedroom units. Almost all of the units have been fully upgraded with new flooring, HVAC units, modern bathroom, kitchen cabinetry and appliances. Both buildings have a new roof. Parking lot has been resurfaced recently. Currently, the apartment complex has 100% occupancy (all 22 units out of 22 units are occupied) and brings in monthly rent of $11,785. Still plenty of room for rent growth up to $16,000 per month. Don't miss out on this fantastic opportunity to own a high cash-flow, high occupancy apartment complex in this fast-growing community. 24 Hour notice for all showings and listing agent and/or property manager must accompany all showings. **All information deemed reliable but not guaranteed. Buyer/Buyer's Agent to verify all information within.**

Details
Maps
Location, Tax & Legal Info
Parcel ID: 053m B 003.00
Deed Book #: R942
Deed Page #: I1431
City Taxes: 3275.68
County Taxes: 4118.54
Contract Info
Foreclosure: No
Short Sale: No
Auction: No
Status: Closed
Listing Price: 1325000
Current Price: $1,152,500
Listing Date: 2021-02-15
General Property Description
Lot Dimensions: Unkown
Acres: 1.1
Zoning: RO 1
# Buildings: 2
Elementary School: Cherokee
# of Units: 22
Middle School: Indian Trail
Total Units: 22
High School: Science Hill
Stories: 2
HOA Fee: 0
Property Sub-Type: Multi Family
Year Built: 1967
Remarks & Misc
Directions: From State of Franklin towards hospital. Turn right onto W Walnut. Apartment are on the left.
Property Condition
Above Average: 1
Income and Expenses
Annual Utility Expenses: 2900
Vacancy Rate %: 0
Gross Annual Income: 14142000
Exterior Finish
Block: 1
Unit 1
# Units: 10
# Rooms: 10
# Bedrooms: 10
# Bathrooms: 10
Unit 2
# Units: 12
# Rooms: 32
# Bedrooms: 22
# Bathrooms: 12
Roof
Rubber: 1
Levels
Two: 1
Window Features
Double Pane Windows: 1
Interior Features
Kitchen/Dining Combo: 1
Laminate Counters: 1
Open Floorplan: 1
Remodeled: 1
Restored: 1
Amenities
Landscaping: 1
Heating
Baseboard: 1
Central: 1
Electric: 1
Heat Pump: 1
Info Available
Books Available: 1
Leases: 1
Profit/Loss Statement: 1
Rental Rolls: 1
AC
Heat Pump: 1
Wall Unit(s): 1
Window Unit(s): 1
Utilities
Cable Available: 1
Water
Public: 1
Sewer
Public Sewer: 1
Appliances
Electric Range: 1
Refrigerator: 1
Topography/Lot Description
Cleared: 1
Sloped: 1
Laundry Features
Electric Dryer Hookup: 1
Washer Hookup: 1
Flooring
Tile: 1
Vinyl: 1
Easements
None: 1
Financing
Cash: 1
Conventional: 1
Parking Features
Asphalt: 1
Deeded: 1
Walls
Drywall: 1
Other: 1
Foundation
Block: 1
Structure Type
House: 1
Expenses Include
Electric: 1
Lawn Maint: 1
Property Insurance: 1
Property Management: 1
Repairs and Maint: 1
Taxes Real Estate: 1
Water/Sewer: 1
Location Tax Legal Info
Street #: 2805
St Direction: West
Street Name: Walnut
St Suffix: Street
County: Washington
State/Province: TN
Zip Code: 37604
Area: 304 - SW Johnson City
Subdivision: Not In Subdivision
Status Change Info
Date Pending: 2021-02-18
Sold Date: 2021-03-22
Sold Price: $1,152,500
Property Features
Property Condition: Above Average
Levels: Two
Exterior Finish: Block
Amenities: Landscaping
Interior Features: Kitchen/Dining Combo; Laminate Counters; Open Floorplan; Remodeled; Restored
Appliances: Electric Range; Refrigerator
Flooring: Tile; Vinyl
Roof: Rubber
Parking Features: Asphalt; Deeded
Heating: Baseboard; Central; Electric; Heat Pump
Laundry Features: Electric Dryer Hookup; Washer Hookup
Water: Public
Window Features: Double Pane Windows
Sewer: Public Sewer
Foundation: Block
AC: Heat Pump; Wall Unit(s); Window Unit(s)
Utilities: Cable Available
Structure Type: House
Walls: Drywall; Other
Info Available: Books Available; Leases; Profit/Loss Statement; Rental Rolls
Easements: None
Financing: Cash; Conventional
Expenses Include: Electric; Lawn Maint; Property Insurance; Property Management; Repairs and Maint; Taxes Real Estate; Water/Sewer
Listing Office: Bridge Pointe Real Estate Jonesborough

Last Updated: April - 30 - 2024

Information deemed reliable but not guaranteed.

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