131 Bob Fitz Rd N

$1,389,000, 1.84 Acres

About This Property

Investment opportunity! This is two properties sold as a portfolio: 1st property in the portfolio are the Cascade apartments, at 131 Bob Fitz, 15 units in 3 buildings. 12 units have 2 bedroom and 1.5 bath, and are two level townhomes. Two units have 2 bed/1 bath. One unit has one bed/1 bath. Those are one level. All but the one bedroom has Washer/Dryer hookups. The second property is 2806 2804 Plymouth Rd, located in south Johnson city, just off of S. Roan St. well maintained, and has 14 units, all one bed/one bath, all same floor plan. NOI for whole portfolio in 2018 is $95,675. But in 2019 first quarter, NOI actual, as of March 30th, NOI actual is at $26,319.71.Multiplied by 4 quarters puts 2019 NOI at $105,279, which puts cap rate at current listing price at 7.6% cap rate for both properties. Excellent investment property, stays rented, good locations. tenants pay electricity and water at Cascade (Fitz) and tenants pay electricity at Plymouth. All information subject to change, and to be verified by buyer and buyer's agent.

Essential Information

MLS® #418921
Price$1,389,000
Acres1.84
Year Built1996
TypeMulti-Family
Sub-TypeApt. Complex
Style1 Story, Townhouse
StatusContingency

Community Information

Address131 Bob Fitz Rd N
AreaGray/Boones Creek
CityJohnson City
CountyWASHINGTON-TN
StateTENNESSEE
Zip Code37615

Interior

CoolingCentral

Exterior

ExteriorBrick
Lot Description1.84

School Information

ElementaryRIDGEVIEW
MiddleRIDGEVIEW
HighDANIEL BOONE

Additional Information

Date ListedMarch 20th, 2019
ZoningR

Listing Details

Listing Courtesy ofREMAX CHECKMATE, INC. REALTORS

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131 Bob Fitz Rd N, Johnson City (MLS® #418921) Property History

Status Changed from Active to Contingency

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

Information herein deemed reliable but not guaranteed June 20th, 2019 at 3:53pm

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