Multifamily (Multi-Family)

500 West Chestnut St, Johnson City, TN 37604

Raised Ranch

FOR SALE

Price: $415,000 Price Per ft²: $inf List Date: 2024-06-10 DOM: 46
City Tax: $1,751 County Tax: $1,901Expenses Include: Other, Taxes Real Estate, Water/Sewer

Year Built: 1960 pre-1978 Homes

Total Area: 0 ft² (Finished & Unfinished)

Lot Size: 0.37 acre(s) Lot Dimensions: 93.90 X 167.3 IRR Topography: Rolling Slope

Heating: Baseboard, Central Cooling: Ceiling Fan(s), Central Air, Window Unit(s) Water & Sewage: Public

Appliances: Range, Refrigerator

Description

The eclectic Tree Streets are one of the most sought-after areas in East Tennessee. A tree-lined residential neighborhood within biking distance of ETSU, Quillen Med School, Bill Gatton School of Pharmacy, plus all that Downtown Johnson City has to offer. Unique events make the 'Tree Streets' feel like home. Property is within walking distance to Veterans Park (and South Side Elementary), a few favorites to catch: Music in the Park on Sundays, Kickball and a Covered Dish, Earth Day Bike Parade, Chili Cook-off.Turn-key, high cap properties and multi-families in the Tree Streets are scarce on their own- combining the two is truly a rare opportunity. 500 W Chestnut not only produces a 9% cap, but has immediate potential to increase, without force, through a conservative rental rate adjustment on two of the units.