$1,900,000
MLS# 9962738
Status: Closed
12350 sqft

1 / 49
Property Description
Units consist of 6-3/2, 7-1/1, and 1-3/2. Tenants pay utilities. Welcome to 167 & 171 Minga Drive, an exceptional investment opportunity nestled in the heart of Johnson City, TN. This meticulously maintained 14-unit apartment building presents a prime chance to expand your portfolio in one of Tennessee's most thriving rental markets. Features include. Prime Location: Conveniently situated in a sought-after neighborhood of Johnson City, offering easy access to local amenities, schools, and major transportation routes. Well-Appointed Interiors: Modern finishes and thoughtful design elements adorn the interiors, creating a welcoming atmosphere for residents. Income Potential: With a consistent demand for rental properties in Johnson City, this building promises a lucrative income stream for investors. Low Vacancy Rate: Benefit from a historically low vacancy rate, ensuring steady occupancy and minimal turnover. Ample Parking: On-site parking facilities provide convenience and ease for residents, enhancing the appeal of the property. Strong Rental History: A proven track record of reliable rental income underscores the investment potential of this property. Location Highlights: Close proximity to shopping centers, restaurants, and entertainment options, offering residents a vibrant lifestyle Easy access to major employers and educational institutions, appealing to a diverse tenant base. Nearby parks and recreational facilities provide opportunities for outdoor enjoyment and leisure activities. Don't miss out on this rare opportunity to acquire a well-positioned apartment building in Johnson City's thriving rental market. Whether you're a seasoned investor or looking to start your real estate portfolio, 167 & 171 Minga Drive presents an excellent chance to capitalize on the demand for quality rental housing in the area. All information herein deemed reliable but subject to buyers verification.
Details
Location, Tax & Legal Info
Lot #: 5
Parcel ID: 053h A 036.00 053h A 035.00
Deed Book #: R116
Deed Page #: I1950
City Taxes: 0
County Taxes: 5364.68
Contract Info
List Price/SqFt: 153.85
Foreclosure: No
Short Sale: No
Auction: No
Status: Closed
Listing Price: 1900000
Current Price: $1,900,000
Listing Date: 2024-03-04
General Property Description
Acres: 1.4
Lease: Yes
Lot Size: 200 x 308
Zoning: R3
HOA Y/N: No
Total SqFt Finished: 11500
Total SqFt Unfinished: 850
Annual Lease $: 181440
Year Built: 1994
Total SqFt: 12350
Remarks & Misc
Directions: Knob Creek Rd to Claude Simmons Rd. 1.1 left onto Claude Simmons Rd. 1 mi left onto Minga Dr. 300 ft on right.
Property Condition
Above Average: 1
Business Type
Residential: 1
Exterior Finish
Brick: 1
Vinyl Siding: 1
Other Equipment
Refrigeration: 1
Smoke Detector(s): 1
Roof
Shingle: 1
Road Access
Dedicated: 1
Electric Service
220 Volts: 1
Development Status
Other: 1
Heating
Central: 1
Info Available
Leases: 1
Profit/Loss Statement: 1
Rental Roles: 1
AC
Central Air: 1
Water
Public: 1
Sewer
Public Sewer: 1
Restrictions
See Remarks: 1
Possession
See Remarks: 1
Financing
Cash: 1
Conventional: 1
Sale Includes
Business Only: 1
Location Tax Legal Info
County: Washington
State/Province: TN
Zip Code: 37604
Area: 301 - NW Johnson City
Status Change Info
Date Pending: 2024-04-04
Sold Date: 2024-07-24
Sold Price: $1,900,000
Property Features
Property Condition: Above Average
Business Type: Residential
Exterior Finish: Brick; Vinyl Siding
Other Equipment: Refrigeration; Smoke Detector(s)
Roof: Shingle
Electric Service: 220 Volts
Development Status: Other
Heating: Central
AC: Central Air
Water: Public
Sewer: Public Sewer
Road Access: Dedicated
Info Available: Leases; Profit/Loss Statement; Rental Roles
Restrictions: See Remarks
Possession: See Remarks
Financing: Cash; Conventional
Sale Includes: Business Only
Listing Office: KW Johnson City
Last Updated: July - 24 - 2024
Information deemed reliable but not guaranteed.