Timbers North Apartments - VALUE ADD OPPORTUNITY!

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30211168
Property Subtypes: Low-Rise/Garden
Status: Pending
Number of Units: 62 Units
Building Size (RSF): 48,150 SF
Gross Building Area: See Agent
Gross Land Area: 2.20 Acres
Sale Price: $1,350,000
Unit Price: $21,774.19 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/30/2018

Overview / Comments

GREAT VALUE ADD OPPORTUNITY! 62-unit apartment complex is available for sale at the intersection of Timberlake Road and East Mountain View Road in North Johnson City. The property consists of 39 one-bedroom apartments, 15 two-bedroom apartments and 8 three-bedroom apartments. The complex is conveniently located just off Bristol Highway, minutes away from restaurants and shopping.

From I-26: Take exit 20, then travel north on N Roan St. Veer right at the fork in the road onto Bristol Hwy. Turn left onto Timberlake Road in 0.9 miles. Subject is located at the intersection of Timberlake Rd and E. Mountain View Rd.

Additional Details

Nearest MSA: Johnson City
County: Washington
Tax ID/APN: 030H D 007.00
Zoning: B4/R2/R3
Highway Access: I-26
Airports: Tri Cities Regional Airport
Total Number of Buildings: 3
Property Condition: Average
Number of Stories: 2
Year Built: 1972
Construction/Siding: Brick
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,075 27,306 76,379
Median Age: 47.5 43.57 39.76
Households: 1,071 12,147 32,445


Photograph of Listing Agent

John Speropulos, CCIM, SIOR

Mitch Cox Realtor, Inc. NETAR CMLS Member
Photograph of Listing Agent

Marc Murphy, CCIM

Mitch Cox Realtor, Inc. NETAR CMLS Member
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