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MLS® ID: 412917

412 E Watauga Ave

Johnson City, Tennessee, 37601

$195,000 Active
  • 3258 SQFT
Motivated seller!! Zoned RO-1 High Density Residential âProfessional Office District (please contact your agent for a list of approved uses-attached in MLS) Currently the property is a 5 unit property consisting of the following. Downstairs offers (2) 1 bed/1 bath units estimated at a rental of $750 each. Upstairs you have (2) 1 bed/1 bath units which have rented out for $500 a month before & (1) unit which is a efficiency unit at $400 a month. With the numbers above we have a yearly estimate income of $34,800 gross when all units are rented out. Expenses are based on 2015#s when unit was last rented out. Those are Gas $3118.38, Water/sewer/trash $664.22, Power $2365.92, Current Insurance at $925, current taxes at $3514.90 and then a 10% management fee if property was professionally managed $3480. Gross estimate income once fully rented $34,800 minus expenses $14,068.42 equals $20,731.58 net income for a 10.63 % cap rate if fully rented. For complete details see mls attached breakdown. Property has the same water & power & gas meter that services all units. Property could be turned back into a house or left as income producing property or used as a office or many other things.
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Listing courtesy of PARK HILL REALTY GROUP LLC

Amenities

  • Zip
    37601
  • Office name
    PARK HILL REALTY GROUP LLC
  • SQFT
    3258
  • Property type
    Commercial
  • Zoning type
    COMMERCIAL/RES
  • Year built
    1920
  • Lot size
    50
  • Agent name
    JOSHUA COON
  • Tax amount
    $ 1555.85
  • Purchase Type
    Active
  • Price Range
    $100k-$200k
  • Square Feet Range
    3000-3500 sq ft.
  • Area
    Se Johnson City
  • Acreage Range
    20 – 50 acres
  • Year Built Range
    1989 (and earlier)
  • Office ID
    134712120
  • Agent ID
    5205

Location

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