306 S Watauga

$1,275,000, .91 Acres

About This Property

Four historic buildings in downtown Elizabethton which make up a unique multi-family portfolio, 32 units with great future income potential. As the town of Elizabethton begins to grow and develop downtown, an investor can get in on the front end of this growth with these historic, and ideally located buildings for passive income property. Charles Building: 306 S. Watauga (This property is on the same parcel as 327 S. Lynn Ave.) 10 Units total. 6 units are 2 bed rents are $450 to $495 per month , 1 bath, 4 units are 1 bed 1 bath rents are $395 to $375. The Lynn Apts: 327 S. Lynn Ave, 12 Units, all 1 bed 1 bath rents are $395-$425 per month.Nancy Apts: 308 S. Watauga 6 Units, all 1 bed 1 bath rents are $395 to $425 per month.Marilyn Apartments: 3204 E I Street, 4 units, all 1 bed 1 bath each rents are $400 per month.Coin laundry room attached to this building and an extra lot. at this time owners have been letting the tenants use the machines for free but they are coin laundry machines.These 32 units are full of opportunity for highest and best useAll apartments have new dual pane windows with the exception of the Marilyn has some new windows.32 units with a covered parking lot, on site parking and coin laundry room with extra lot on Marilyn Lot. The Lynn has a newer roof.

Essential Information

MLS® #421381
Price$1,275,000
Acres0.91
Year Built1935
TypeMulti-Family
Sub-TypeApt. Complex
Style3+ Story
StatusActive

Community Information

Address306 S Watauga
AreaCity of Elizabethton
CityElizabethton
CountyCARTER
StateTENNESSEE
Zip Code37643

Interior

CoolingWindow Unit

Exterior

ExteriorBrick, Stucco
Lot Description.91

School Information

ElementaryMCCORMICK
MiddleT A DUGGER
HighELIZABETHTON

Additional Information

Date ListedMay 8th, 2019
ZoningR

Listing Details

Listing Courtesy ofREMAX CHECKMATE, INC. REALTORS

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

Information herein deemed reliable but not guaranteed September 22nd, 2019 at 7:08pm

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