6 unit Multifam at 505 Stanley Rd Johnson City

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 29986694
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 6 Units
Building Size (RSF): 4,350 SF
Gross Building Area: See Agent
Gross Land Area: 11,200 SF
Sale Price: $179,900
Unit Price: $29,983.33 Per Unit
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/8/2017

Overview / Comments

6 unit apartment building for sale, with serious value-add potential. 4 units are 2 bedroom, and 2 units are 1 bedroom, all tenants past one year and are month to month, with some tenants having been there for years. Simple, basic apartments, easy to rent, and no vacancies at this time. Each unit has Stove, fridge, washer hook-up, window unit A/C, and wall heaters. Rents currently below market average, and with management, could gross up yearly net income nicely. Great investment opportunity.

Landlord pays electricity for the two 1BR units, and pays water on all six units.

Additional Details

Nearest MSA: Johnson City
County: Washington
Site Description: Sloping lot,
Area Description: Neighborhood off of Knob Creek Rd
Total Number of Buildings: 1
Property Condition: Average
Number of Stories: 3
Year Built: 1960
Exterior Description: Siding,
Parking Ratio: 1 (per 1000 SF)
Parking Type: Surface
Parking Description: One space per unit with additional space and street parking in Cul-de-sac
Total Parking Spaces: 7
Heat Type: Electricity
Heat Source: Wall Units
Fuel: Electric
Air Conditioning: Window Unit
Interior Description: 4 units are two bedroom, 2 units downstairs are one bedroom. All 100% occupied.
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,643 50,715 84,084
Median Age: 42.09 37.88 38.62
Households: 3,880 22,058 35,803


Photograph of Listing Agent

Stephen J Goodson, ChFC

Remax Checkmate, Commercial Division NETAR CMLS Member
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