200-206 East Watauga Avenue

Johnson City, TN 37601

Attention Investors! Here is your chance to own 16 units in Johnson City, Tennessee. This complex is less than 3 miles from ETSU and less than 5 miles from Milligan University. This portfolio includes 3 separate buildings that have been converted into apartments. The addresses are: 200/204/206 E Watauga Ave. All together the property brought in an annual gross income of $138,820.77 for 2023. More units have since been remodeled and with current market rents, this property's forecasted annual gross income is $198,900.00. 200 E Watauga is composed of 6-1 bedroom/1 bath apartments. These units have separate electrical meters for each unit. 204 E Watauga is composed of 6-1 bedroom/1bath apartments. These also have separate electrical meters for each unit. 206 E Watauga is composed of 4 units with shared utilities. 1-3 bedroom/1bath apartment 3-1bedroom/1bath apartment The owner has spent over 200k in capital expenditures improving the units. This includes completely remodeling 6 units with new flooring, new paint, new updated bathrooms, new appliances, new custom cabinetry, new countertops, and new PTAC units when needed. The remaining units were updated/refreshed with new floor, new paint, and new appliances as needed. The property is being professionally managed by a local property management company (Casa Haven Property Management) and would be willing to continue to work with the new owners for a smooth transition. For initial showings buyers may see vacant units, and will be able to get into all units during the inspection.

This is an Active listing.

Broker Office Phone Number: 423-210-4155

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