144 Blue Friday, Multi-Fam with land development

Multi-Family for Sale
Catylist Listing ID: 30329828
Property Subtypes: Low-Rise/Garden, Other
Number of Units: 5 Units
Building Size (RSF): 1,330 SF
Gross Building Area: 6,650 SF
Gross Land Area: 3.61 Acres
Sale Price: $470,000
Unit Price: $94,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Last Updated: 9/7/2018

Overview / Comments

Multi-Family and development opportunity. 5 unit building with high rents producing an effective rental income of $49,500, with additional acreage and pre-approval for an additional 3 buildings. Much of the soft costs already done, land is ready to build.

May think 6.8% cap rate is low, however, the true rate is 8.6% for that building, plus additional 3 acres for sale with it for development.

Additional Details

Nearest MSA: Johnson City
County: Washington

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,614 16,623 50,153
Median Age: 39.89 39.5 41.98
Households: 1,906 6,952 21,295


Photograph of Listing Agent

Stephen J Goodson, ChFC

Remax Checkmate, Commercial Division NETAR CMLS Member
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