Multifamily (Multi Family)

1419 Colony Park Dr, Johnson City, TN 37604

Townhouse

FOR SALE

Price: $1,300,000 Price Per ft²: $413.49 List Date: 2025-08-07 DOM: 19
City Tax: $2,782 County Tax: $3,513Expenses Include: Lawn Maint, Water/Sewer, Repairs and Maint, Property Management

Year Built: 1978

Total Area: 3,144 ft² (Finished & Unfinished)

Lot Size: 0.90 acre(s) Lot Dimensions: 158.14 X 249.34 IRR Topography: Level, Sloped

Heating: Heat Pump Cooling: Heat Pump Water & Sewage: Public

Appliances: Dishwasher, Refrigerator, Range

Description

Presenting 1419 Colony Park - a fully renovated 8-unit multifamily property located in the heart of Johnson City, TN. This stabilized asset offers a rare opportunity to acquire a low-maintenance, cash-flowing investment in one of East Tennessee's most desirable rental markets.The property has undergone extensive recent improvements, including a new roof, updated gutters, fresh exterior paint, and full plumbing upgrades to PEX in most units. Multiple units have been modernized with updated flooring, appliances, fixtures, and fresh interior finishes. Foundation stabilization, landscaping, and tree removal have also been completed, enhancing both structural integrity and curb appeal.Located just minutes from East Tennessee State University and Johnson City Medical Center, the property benefits from strong, consistent tenant demand from students, healthcare professionals, and long-term renters. Proximity to shopping, dining, and major employers adds to its desirability.Highlights:8 fully rented units with upside in rent growthMajor renovations completed—minimal deferred maintenanceStrong tenant base and location-driven demandLess than 5 minutes to ETSU and Johnson City Medical CenterLocated in a high-demand rental corridor with long-term growth potentialThis is a plug-and-play investment opportunity ideal for both new and experienced multifamily investors looking for stable cash flow and long-term appreciation.Contact today for rent roll, financials, and private tour scheduling.