Catylist ID: #30577941
5 unit multifam. 1444 Milligan Hwy
Multi-Family for Sale
|Catylist Listing ID:||30577941|
|Number of Units:||5 Units|
|Building Size (RSF):||3,300 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||0.42 Acres|
|Unit Price:||$39,000 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||3,300 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||92|
Overview / Comments
Excellent investment opportunity!! 5-plex on Milligan Hwy, Johnson City Address. Owners manage it themselves. Low expenses. 5 units, with effective rental income of $23,070, 2 units upstairs with two bedrooms, and 3 units down, all one bedrooms.
NOI is $14,200 per year.
Two upstairs, and two basement apartments, 5-plex is situated on a hill.
Rent roll is $410, $410, $400, $400, and $400 currently. Potential rental income is $24,240.
Low Maintenance brick exterior. Close to Milligan college, and easy to rent.
See a greater return on investment with self-management, and possible rent increases to realize increased future income potential. This won't last long, and will serve a new or experienced investor as a great investment piece for their portfolio.
|Nearest MSA:||Johnson City|
|Taxing Authority:||Johnson City|
|Tax ID/APN:||055N C 005.00|
|Highway Access:||Close by access to I-26|
|Site Description:||Milligan Hwy|
|Area Description:||Johnson City has a host of unique and fun experiences for you to enjoy, including food and entertainment downtown, hiking and biking nearby, great schools, hospital system, and colleges. Subject property is situated near Milligan College. Picturesque Milligan College campus is located in beautiful northeastern Tennessee, within minutes of restaurants, shopping, theatre, and cultural activities, as well as plenty of outdoor adventures like hiking, skiing, and more.|
|Total Number of Buildings:||1|
|Number of Stories:||15|
|Proximity:||1 mile||3 miles||5 miles|
Stephen J Goodson, ChFCRemax Checkmate, Commercial Division NETAR CMLS Member
|© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Northeast Tennessee Association of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.|