Johnson City, TN 37601 Johnson City, TN 37601
- Added:
- Sep 11, 2025
- Days on Market:
- 217
- Last Refresh:
- Apr 15 at 3:06 am
Property Features
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Parking
- 9
- Standard status
- Active
- Size
- 8,942 SF
- Lot size
- 0.56 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6873
Utilities
- Sewer type
- Septic Tank, Public Sewer
- Cooling system
- Wall Unit(s)
- Water source
- Public
Building Details
- Year built
- 1920
- Building materials
- Vinyl Siding, Wood Siding
- Roof type
- Shingle, Composition
Listing agent Matthew McCrory License #347285 (423) 557-7839
Listing office eXp Realty, LLC 3401 Mallory Lane #100, Nashville, TN (888) 519-5113
Listing date Sep 11, 2025
MLS# 9985657
Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Overview
Johnson City Multifamily Investment Opportunity
This portfolio in Johnson City, Tennessee, presents an investment opportunity with 16 units across three buildings located at 200, 204, and 206 E Watauga Ave. Situated less than 3 miles from ETSU and less than 5 miles from Milligan University, the complex includes 200 E Watauga, which features six 1-bedroom/1-bath apartments, each with separate electrical meters. Similarly, 204 E Watauga offers six 1-bedroom/1-bath apartments, also with individual electrical meters for each unit. The building at 206 E Watauga comprises three 1-bedroom/1-bath apartments and one 3-bedroom/1-bathroom apartment. These units share utilities, including electric, water, internet, trash, and sewer. The three-bedroom unit has these costs factored into the rent, while the other three units pay a utility fee. A laundry room is available for all units in building 206. The property has undergone capital improvements, including the complete remodeling of six units with new flooring, paint, updated bathrooms, appliances, custom cabinetry, countertops, and PTAC units. The remaining units have been updated with new flooring, paint, updated plumbing, and new appliances as needed. The property, professionally managed by a local company, has a projected gross annual income of $207,000 when fully rented, with a capitalization rate close to 9%. The property is zoned commercial and sits on a 0.56-acre lot. The total property size is 8,942 square feet.
Location Intelligence
Current Use by Public Records
Apartment buildings
Map
- City
- Johnson City
- County
- Washington
- State
- Tennessee
- Longitude
- -82.3328
- Latitude
- 36.34
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Sixteen-unit apartment portfolio near ETSU and Milligan University.
Where is this apartment building located?
The property is located at Johnson City, TN.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Investment opportunity: Portfolio of 16 apartment units.; Proximity to Universities: Less than 3 miles from ETSU and less than 5 miles from Milligan University.; **High Income Potential: Projected gross annual income of $207,000 with a potential 9 cap rate.**
