142 Spears Ave Elizabethton Multi-Family

Multi-Family for Sale
Catylist Listing ID: 30466884
Property Subtypes: Low-Rise/Garden
Number of Units: 11 Units
Building Size (RSF): 8,000 SF
Gross Building Area: See Agent
Gross Land Area: 1.23 Acres
Sale Price: $425,000
Unit Price: $38,636.36 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/11/2019

Overview / Comments

Multi Family investment property, easy to rent, in Elizabethton. Many units upgraded, and renovated, (just finished a $15,000 upgrade). Property Currently Full, 100% occupied. Future increase of income potential! 11 Units.

Monthly Gross income is $5105. (Rent roll Available upon request). Expenses are yearly at $21,903. (No T-12 available; list of yearly costs available upon request).

NOI is $39,357. Cap rate currently at 9.3%, and future income potential with raised rents in the future. Convinient location to downtown Elizabethton. Great investment property!

Additional Details

Nearest MSA: Johnson City
County: Carter
Taxing Authority: Carter County
Tax ID/APN: 010034B D 02300
Percent Occupied: 100%
Area Description: Elizabethton is a city in, and the county seat of Carter County, Tennessee, United States.[7] Elizabethton is the historical site of the first independent American government (known as the Watauga Association, created in 1772) located west of both the Eastern Continental Divide and the original Thirteen Colonies. The city is also the historical site of the Transylvania Purchase (1775), a major muster site during the American Revolutionary War for both the Battle of Musgrove Mill (1780) and the Battle of Kings Mountain (1780). It was within the secessionist North Carolina "State of Franklin" territory (1784–1788). The population of Elizabethton was enumerated at 14,008 during the 2010 census.
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 2
Year Built: 1973
Construction/Siding: Aluminum Siding
Parking Type: Surface
Heat Source: Baseboard
Air Conditioning: Window Unit

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,047 15,787 37,605
Median Age: 40.25 41.95 41.49
Households: 863 6,704 15,773

Contact

Photograph of Listing Agent

Stephen J Goodson, ChFC

Remax Checkmate, Commercial Division NETAR CMLS Member
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