Deanwood Apartments for Sale

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30363543
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 27 Units
Building Size (RSF): 23,432 SF
Gross Building Area: See Agent
Gross Land Area: 3.06 Acres
Sale Price: $995,000
Unit Price: $36,851.85 Per Unit
Property Use Type: Investment
Building Name: Deanwood Apartments
Sale Terms: Cash to Seller
Cap Rate: 7.35%
Last Updated: 1/8/2019

Overview / Comments

Multi-Family Investment property on the rise. 27 unit, 6 building complex, which has undergone capital improvements, and is set to launch into 2019 with a new future income potential, improved units, and lower vacancy rate. List of capital improvements are available upon request, as well as P&L, and current vacancy rate as it slides up, now that improvements on units is being completed. It is a great time to buy. Details of vacancies subject to change, and details to be verified by buyer and buyer's agent.

Current Vacancy rate as improvements finish is 11%, expected to normalize and be under ten once improvements are done.

Additional Details

Nearest MSA: Johnson City
County: Washington
Taxing Authority: Johnson City
Tax ID/APN: 029C C 009.00
Zoning: R-2
Highway Access: Near I-26 in Boones Creek
Airports: Tri-Cities Airport
Site Description: 3 acres, rolling, six buildings, creek to one side
Area Description: Boones Creek area is a growing community on the Notrth side of Johnson City
Total Number of Buildings: 6
Property Condition: Average
Number of Stories: 2
Year Built: 1968
Year Renovated: 2018

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,465 22,141 68,821
Median Age: 41.63 42.5 41.15
Households: 1,412 9,607 29,797


Photograph of Listing Agent

Stephen J Goodson, ChFC

Remax Checkmate, Commercial Division NETAR CMLS Member
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