200 East Watauga Avenue, Johnson City, TENNESSEE

$1,900,000

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8,942

Square feet

0.54

Acres

About 200 East Watauga Avenue

Attention Investors! Here is your chance to own 16 units in Johnson City, Tennessee. This complex is less than 3 miles from ETSU and less than 5 miles from Milligan University. This portfolio includes 3 separate buildings that have been converted into apartments. The addresses are: 200/204/206 E Watauga Ave. All together the property brought in an annual gross income of $138,820.77 for 2023. More units have since been remodeled and with current market rents, this property's forecasted annual gross income is $198,900.00. 200 E Watauga is composed of 6-1 bedroom/1 bath apartments. These units have separate electrical meters for each unit. 204 E Watauga is composed of 6-1 bedroom/1bath apartments. These also have separate electrical meters for each unit. 206 E Watauga is composed of 4 units with shared utilities. 1-3 bedroom/1bath apartment 3-1bedroom/1bath apartment The owner has spent over 200k in capital expenditures improving the units. This includes completely remodeling 6 units with new flooring, new paint, new updated bathrooms, new appliances, new custom cabinetry, new countertops, and new PTAC units when needed. The remaining units were updated/refreshed with new floor, new paint, and new appliances as needed. The property is being professionally managed by a local property management company (Casa Haven Property Management) and would be willing to continue to work with the new owners for a smooth transition. For initial showings buyers may see vacant units, and will be able to get into all units during the inspection.

Features of 200 East Watauga Avenue

MLS® # 9962524
Price $1,900,000
Bathrooms 0.00
Square Footage 8,942
Acres 0.54
Year Built 1920
Type Multi-Family
Sub-Type Multi-Family
Style Other, See Remarks
Status Active

Community Information

Address 200 East Watauga Avenue
City Johnson City
County Washington
State TENNESSEE
Zip Code 37601

Amenities

Garages Parking Spaces
View Mountain(s)
Is Waterfront No

Interior

Interior Features Remodeled, Smoke Detector(s)
Appliances Refrigerator
Heating See Remarks, Other
Cooling Window Unit(s), See Remarks
Fireplace No
# of Stories 2
Stories Two

Exterior

Exterior Vinyl Siding, Wood Siding
Exterior Features Balcony
Lot Description Level2
Roof Shingle
Construction Site Built2

School Information

Elementary North Side
Middle Liberty Bell
High Science Hill

Additional Information

Date Listed February 28th, 2024
Days on Market 84
Zoning RO 1
Foreclosure No
Short Sale No

Listing Details

OfficeTrue North Real Estate

Listing Map

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