Multifamily (Multi-Family)

200 East Watauga Ave, Johnson City, TN 37601

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 $182,000.200 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 apartmentThe 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.

Geographical

County: Washington

Subdivision:

Zoning: RO 1

School System

North Side Elementary

Liberty Bell Middle

Science Hill High

Other Rooms: Laundry  Flooring: Hardwood, Laminate, Luxury Vinyl, Vinyl  Other Features: Remodeled, Smoke Detector(s) 

Porch, Patio, Decking Detail:  Porch Roof: Shingle Exterior Finish: Vinyl Siding, Wood Siding Other Exterior: Balcony

Photos