East Shore Apartments

Multi-Family for Sale
Catylist Listing ID: 30054402
Property Subtypes: Low-Rise/Garden
Number of Units: 25 Units
Building Size (RSF): 22,500 SF
Gross Building Area: See Agent
Gross Land Area: 4 Acres
Sale Price: $1,000,000
Unit Price: $40,000 Per Unit
Property Use Type: Investment
Building Name: East Shore Apartments
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 95
Last Updated: 9/16/2018

Overview / Comments

East Shore apartments now for Sale, right on Boone Lake. Great opportunity to acquire 25 units with great future earning potential. Portfolio consists of 5 buildings: a 14 unit with 1 four bedroom,3 one bedroom, and 10 two bedrooms. Next is building 2, consisting of 6 two BR, and then two cottages both two bedrooms, and finally a 3 unit with 3 two BR apartments. Currently leased to almost capacity, and a new roof. This has great value-add potential, and can be acquired for much lower than tax appraised value. Inquire regarding NOI. All information subject to Change, and to be verified by buyer or buyer's agent.

Additional Details

Nearest MSA: Johnson City
County: Washington
Taxing Authority: Johnson City
Percent Occupied: 70%
Community Amenities: Outdoor Pool, Community Building
Highway Access: Bristol Hwy close by
Total Number of Buildings: 5
Property Condition: Fair
Number of Stories: 2
Year Built: 1968
Construction/Siding: Brick
Exterior Description: Brick
Parking Type: Surface
Laundry: Laundromat Nearby
Heat Type: Electricity
Heat Source: Baseboard
Fuel: Electric
Air Conditioning: Window Unit

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,162 26,541 60,222
Median Age: 38.45 41.9 41.74
Households: 1,575 11,416 25,957


Photograph of Listing Agent

Stephen J Goodson, ChFC

Remax Checkmate, Commercial Division NETAR CMLS Member
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