68-Unit Multi-Family Complex
Multi-Family
for Sale
Sale Pending/Contingent
| Catylist Listing ID: |
30797292 |
| Property Subtypes: |
Low-Rise/Garden
|
| Status: |
Pending/Contingent |
| Number of Units: |
68 Units |
| Building Size (RSF): |
61,400 SF |
| Gross Land Area: |
5.14 Acres
|
| Sale Price: |
$9,200,000 |
| Unit Price: |
$135,294.12 Per Unit |
| Property Use Type: |
Investment |
| Building Name: |
South Roan Estates |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
4.94% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
4/18/2022 |
Overview / Comments
|
South Roan Estates apartments are conveniently located in southeast Johnson City, Tennessee, one of the fastest growing areas in Tennessee. This property is located just four miles from ETSU, three miles from Milligan University, and three miles from downtown Johnson City. The development features a total of 68 units with a combination of one-bedroom, two-bedroom, and three-bedroom layouts. Please see the Offering Memorandum for more details. All units are separately metered for electricity. Most units include water and sewer in the rent; however, the 16 units in the 3000 South Roan Street building are separately metered for water and sewer, and these tenants pay their own water and sewer. Buildings were built between 2000 & 2006.
|
Additional Details
| Nearest MSA: |
Johnson City |
| County: |
Washington |
| Taxing Authority: |
Carter County |
| Tax ID/APN: |
063G C 015.00, 063G C 015.03, 063G C 015.05 |
| Zoning: |
R-5 |
| Percent Occupied: |
100% |
| Property Located Between: |
Johnson City and Elizabethton |
| Highway Access: |
South Roan Street - between Exits 24 & 27 off of I-26 |
| Airports: |
Tri-Cities Airport |
| Site Description: |
Improvements site on approximately 5.14 acres of gently rolling terrain. |
| Total Number of Buildings: |
12 |
| Property Condition: |
Good |
| Number of Stories: |
2 |
| Year Built: |
2000 |
| Roof Type: |
Gable |
| Construction/Siding: |
Brick/Vinyl Siding |
| Exterior Description: |
Buildings are a mix of brick, brick & vinyl, and vinyl siding exteriors. |
| Parking Type: |
Surface |
| Parking Description: |
Parking is a mix of on-site, exterior parking or garage parking, depending on the unit. |
| Laundry: |
In Each Unit |
| Sprinklers: |
None |
| Heat Type: |
Electricity |
| Heat Source: |
Heat Pump |
| Fuel: |
Electric |
| Air Conditioning: |
Package Unit |
| Zoning Description: |
R-5 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Ingress/Egress |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
2,194 |
30,085 |
63,813 |
| Median Age: |
39.75 |
34.26 |
38.15 |
| Households: |
1,021 |
12,183 |
27,302 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither Northeast Tennessee Association of REALTORS® nor
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