$975,000
Johnson City, TN 37601
MLS# 320829
Status: Closed
1 / 5
Property Description
Possible short sale. Excellent investment opportunity for 6.84 acres including 53 units consisting of 31 1 bedroom, 18 2 bedroom and 4 studio apartments. Additional land approved for 43 more units included. Walking path to ETSU. Minutes from Med Center and VA. Laundry Facility with 5 each washers and dryers. Current Accountant financial information available upon request. Beautiful, private setting just off University Parkway.
Details
Maps
Location, Tax & Legal Info
Unit #: 0
Parcel ID: 10/11
Deed Book #: R451
Deed Page #: I951
City Taxes: 11243.85
County Taxes: 13971.49
Contract Info
Foreclosure: No
Short Sale: Yes
Status: Closed
Listing Price: 2350000
Current Price: $975,000
Listing Date: 2012-05-25
General Property Description
Lot Dimensions: 445 X196
Acres: 6.84
Zoning: R-4
# Buildings: 3
Elementary School: South Side
# of Units: 53
Middle School: Indian Trail
High School: Science Hill
Stories: 2
Property Sub-Type: Multi Family
Year Built: 1974
Remarks & Misc
Directions: State of Franklin to University Parkway past ETSU to right on Magnolia Extension beside Trinity Assembly of God Church. Go to around corner to complex. Complex at end of street.
Property Condition
Average: 1
Income and Expenses
Annual Operating Expenses: 61942
Annual Utility Expenses: 41099
Net Annual Income: 109163
Exterior Finish
Brick: 1
Vinyl Siding: 1
Unit 1
# Units: 10
# Rooms: 44
# Bedrooms: 14
# Bathrooms: 10
# Half Baths: 0
SqFt: 6609
Unit 2
# Units: 10
# Rooms: 43
# Bedrooms: 12
# Bathrooms: 10
# Half Baths: 0
SqFt: 6408
Style
Other: 1
See Remarks: 1
Roof
Composition: 1
Unit 3
# Units: 33
# Rooms: 15
# Bedrooms: 45
# Bathrooms: 33
Half Baths: 6
SqFt: 27098
Interior Features
Laminate Counters: 1
Remodeled: 1
Heating
Central: 1
Heat Pump: 1
Info Available
Appraisal: 1
Books Available: 1
AC
Central Air: 1
Heat Pump: 1
Water
Public: 1
Sewer
Public Sewer: 1
Appliances
Dishwasher: 1
Microwave: 1
Range: 1
Refrigerator: 1
Topography/Lot Description
Level: 1
Sloped: 1
Flooring
Carpet: 1
Ceramic Tile: 1
Laminate: 1
Easements
None: 1
Financing
Cash: 1
Conventional: 1
Parking Features
Asphalt: 1
Deeded: 1
Existing Finance
Conventional: 1
Walls
Drywall: 1
Expenses Include
Accounting: 1
All Services: 1
Business Insurance: 1
Repairs and Maint: 1
Taxes Real Estate: 1
Utilities: 1
Location Tax Legal Info
Street #: 810/900
Street Name: Magnolia Steet
St Suffix: Extension
County: Washington
State/Province: TN
Zip Code: 37601
Area: 304 - SW Johnson City
Status Change Info
Date Pending: 2012-12-07
Sold Date: 2012-12-21
Sold Price: $975,000
Property Features
Property Condition: Average
Style: Other; See Remarks
Exterior Finish: Brick; Vinyl Siding
Interior Features: Laminate Counters; Remodeled
Appliances: Dishwasher; Microwave; Range; Refrigerator
Flooring: Carpet; Ceramic Tile; Laminate
Roof: Composition
Parking Features: Asphalt; Deeded
Heating: Central; Heat Pump
Water: Public
Sewer: Public Sewer
AC: Central Air; Heat Pump
Walls: Drywall
Info Available: Appraisal; Books Available
Easements: None
Financing: Cash; Conventional
Existing Finance: Conventional
Expenses Include: Accounting; All Services; Business Insurance; Repairs and Maint; Taxes Real Estate; Utilities
Listing Office: RE/MAX Preferred
Last Updated: September - 26 - 2020
Information deemed reliable but not guaranteed.