Catylist ID: #30424673
REDUCED!!! Downtown Elizabethton Multi-Family Portfolio
Multi-Family for Sale
|Catylist Listing ID:||30424673|
|Property Subtypes:||Low-Rise/Garden, Mid-Rise|
|Number of Units:||32 Units|
|Building Size (RSF):||10,500 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||0.91 SF|
|Unit Price:||$37,187.50 Per Unit|
|Property Use Type:||Investment|
|Building Name:||Charles, Lynn, Marilyn, Nancy|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||93|
Overview / Comments
Four historic buildings in downtown Elizabethton which make up a unique multi-family portfolio, 32 units with great future income potential. As the town of Elizabethton begins to grow and develop downtown, an investor can get in on the front end of this growth with these historic, and ideally located buildings for passive income property.
Charles Building: 306 S. Watauga (This property is on the same parcel as 327 S. Lynn Ave.) 10 Units total. 6 units are 2 bed rents are $450 to $495 per month , 1 bath, 4 units are 1 bed 1 bath rents are $395 to $375
The Lynn Apts: 327 S. Lynn Ave, 12 Units, all 1 bed 1 bath rents are $395-$425 per month
Nancy Apts: 308 S. Watauga 6 Units, all 1 bed 1 bath rents are $395 to $425 per month
Marilyn Apartments: 3204 E I Street, 4 units, all 1 bed 1 bath each rents are $400 per month
Coin laundry room attached to this building and an extra lot. at this time owners have been letting the tenants use the machines for free but they are coin laundry machines. These 32 units are full of opportunity for highest and best use.
All apartments have new dual pane windows with the exception of the Marilyn has some new windows.
32 units with a covered parking lot, on site parking and coin laundry room with extra lot on Marilyn Lot.
The Lynn has a newer roof and most of the Lynn’s are new inside.
|Nearest MSA:||Johnson City|
|Taxing Authority:||Elizabethton, Carter County|
|Tax ID/APN:||010041G M 00901|
|Site Description:||Just south of Downtown Elizabethton Tennessee. Small historic and quaint city outside of area MSA Johnson City TN.|
|Total Number of Buildings:||4|
|Exterior Description:||Cosmetic work to stucco as deferred maintenance could be done, to improve aesthetic.|
|Proximity:||1 mile||3 miles||5 miles|
Stephen J Goodson, ChFCRemax Checkmate, Commercial Division NETAR CMLS Member
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