412 E Watauga Ave , #5

    Johnson City, TN 37601
    • $189,900
    • STATUS: Active
    • ON SITE: 267 days
    • MLS #: 412917
    $189,900
    • 0
      BEDS
    • 1.85
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,258
      SQFT
    • $58
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1920
    County:

    School Ratings & Info

    Description

    Motivated seller!! Zoned RO-1 High Density Residential Professional Office District (please contact your agent for a list of approved uses-attached in MLS) Currently the property is a 5 unit property consisting of the following. Downstairs offers (2) 1 bed/1 bath units estimated at a rental of $750 each. Upstairs you have (2) 1 bed/1 bath units which have rented out for $500 a month before & (1) unit which is a efficiency unit at $400 a month. With the numbers above we have a yearly estimate income of $34,800 gross when all units are rented out. Expenses are based on 2015#s when unit was last rented out. Those are Gas $3118.38, Water/sewer/trash $664.22, Power $2365.92, Current Insurance at $925, current taxes at $3514.90 and then a 10% management fee if property was professionally managed $3480. Gross estimate income once fully rented $34,800 minus expenses $14,068.42 equals $20,731.58 net income for a 10.91 % cap rate if fully rented. For complete details see mls attached breakdown. Property has the same water & power & gas meter that services all units. Property could be turned back into a house or left as income producing property or used as a office or many other things.

    Monthly Payment Calculator



    © 2019 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2019-06-16T23:59:50.437.
    www.conservusrealestategroup.com/homes/87851190

    412 E Watauga Ave , #5 Johnson City, TN 37601

    • Price: $189,900
    • Status: Active
    • MLS #: 412917
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.85
    Acres
    3,258
    SQFT
    $58
    $/SQFT
    1920
    Built
    Neighborhood:
    Se Johnson City
    County:
    Washington-Tn
    Area:
    Se Johnson City
    Property Description
    Motivated seller!! Zoned RO-1 High Density Residential Professional Office District (please contact your agent for a list of approved uses-attached in MLS) Currently the property is a 5 unit property consisting of the following. Downstairs offers (2) 1 bed/1 bath units estimated at a rental of $750 each. Upstairs you have (2) 1 bed/1 bath units which have rented out for $500 a month before & (1) unit which is a efficiency unit at $400 a month. With the numbers above we have a yearly estimate income of $34,800 gross when all units are rented out. Expenses are based on 2015#s when unit was last rented out. Those are Gas $3118.38, Water/sewer/trash $664.22, Power $2365.92, Current Insurance at $925, current taxes at $3514.90 and then a 10% management fee if property was professionally managed $3480. Gross estimate income once fully rented $34,800 minus expenses $14,068.42 equals $20,731.58 net income for a 10.91 % cap rate if fully rented. For complete details see mls attached breakdown. Property has the same water & power & gas meter that services all units. Property could be turned back into a house or left as income producing property or used as a office or many other things.
    Exterior Features

    Development Status Finished Exterior Finish Frame Lot Size Dimensions 50X150 Parking Spaces 10 Road Access CityPrivate Roof Composition Shingle

    Interior Features

    Cooling Window Unit Equipment BasementSmoke Detector(S) Heating Natural GasSteam Restrooms 5 Sq Ft Finished 3258 Sq Ft Unfinished 0

    Property Features

    Business Type ProfessionalResidential Easements None Electric Service Other See Remarks Financing Conventional Foreclosure YN No Info Available Appraisal Possession At Close Property Condition Above Avg Restrictions Building Sale Includes Other See Remarks Tax Amount 1555.85 Tax Town County 1959.05 Water And Sewer Sewer-PublicWater-Public Zoning Commercial/Res

    Listing information © 2019 Tennessee/Virginia Regional MLS.
    Listing provided courtesy of Joshua Coon of Park Hill Realty Group Llc.



    © 2019 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2019-06-16T23:59:50.437.
     
    Conservus Real Estate Group
    402 East Main Street
    Kingsport TN, 37660