412 E Watauga Ave 5

$189,900, 3,258 Sqft

About This Property

Motivated seller!! Zoned RO-1 High Density Residential √ĘProfessional 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.

Essential Information

MLS® #412917
Price$189,900
Square Footage3,258
Acres0.00
Year Built1920
TypeCommercial/Industrial
StatusActive

Community Information

Address412 E Watauga Ave 5
AreaSE Johnson City
CityJohnson City
CountyWASHINGTON-TN
StateTENNESSEE
Zip Code37601

Amenities

Parking Spaces10

Interior

HeatingNatural Gas, Steam
CoolingWindow Unit
# of Stories4

Exterior

ExteriorFrame
Lot Description50X150
RoofComposition Shingle

Additional Information

Date ListedSeptember 22nd, 2018
ZoningCOMMERCIAL/RES

Listing Details

Listing Courtesy ofPARK HILL REALTY GROUP LLC

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412 E Watauga Ave 5, Johnson City (MLS® #412917) Property History

Price Reduced from $195,000 to $189,900
Price Reduced from $228,500 to $195,000

Copyright 2019 Tennessee Virginia Regional MLS®. All rights reserved.

Information herein deemed reliable but not guaranteed June 25th, 2019 at 3:23pm

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