Multifamily (Multi Family)

1419 Colony Park Dr, Johnson City, TN 37604

Townhouse

FOR SALE

Price: $1,219,000 Price Per ft²: $387.72 List Date: 2026-04-27 DOM: 2
City Tax: $2,832 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: 0.00 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

8-Unit Multifamily Investment OpportunityNow available—well-maintained 8-unit townhome-style complex in a prime Johnson City location offering strong occupancy and immediate income potential.The property features eight 2-bedroom, 1.5-bath units, with a convenient half bath on the main level and full bath upstairs. Currently, 7 units are occupied with 1 unit intentionally left vacant for showings, providing easy access for prospective buyers without disrupting tenant stability.Many units have been updated with new flooring, PEX plumbing, and updated appliances, offering a more modern feel while helping reduce ongoing maintenance. The property has been consistently cared for and presents a solid opportunity for investors seeking a stable, income-producing asset.Ideally located just minutes from East Tennessee State University (ETSU), Johnson City Medical Center, and the VA Hospital, this property benefits from steady rental demand. Tenants also enjoy convenient access to grocery stores, everyday essentials, and downtown Johnson City dining and entertainment.Highlights:8 total units (2BR / 1.5BA townhome-style)7 occupied, 1 vacant for showingsUpdates in many units: flooring, PEX plumbing, appliancesDesirable layout with half bath on main levelStrong rental location near major employers and amenitiesConsistent occupancy with investment upsideWhether you're expanding your portfolio or entering the multifamily space, this property offers a balanced combination of stability, location, and long-term potential.Some of the information in this listing may have been obtained from a 3rd party and/or tax records and must be verified before assuming accuracy. Buyer(s) must verify all information.