205/207 E Washington Ave Athens, TN 37303

Building Details

Year Built

1937

Listing office VonKeith Properties c***@vonkeithproperties.com Show Phone

Listing date Dec 26, 2024

Source Exitrealty

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Investment Insights

Based on property information with market context.

Located in downtown Athens, this mixed-use property offers significant income potential. The property currently generates a gross annual income exceeding $100,000, yielding a 14% CAP rate. Situated in a walkable area, it is conveniently located near restaurants, a coffee shop, shopping options, and Tennessee Wesleyan University. The property includes six individual rooms upstairs, accessible via a hallway with new flooring. These rooms share a kitchen equipped with newer cabinets, an electric stove/oven, a refrigerator, and a microwave. Shared single restrooms are available, assigned by gender. In addition to the individual rooms, the building features one full one-bedroom apartment unit upstairs and two one-bedroom units downstairs, all of which have been remodeled. Unit 205 is a commercial space with hardwood floors, currently rented as a boutique with large display windows facing Washington Ave. This property presents a chance to own a piece of downtown Athens.

Key Highlights

• High income potential: Gross income over $100k/year with a 14% CAP rate.
• Prime Downtown Athens location: Walkable to restaurants, coffee shops, shopping, and Tennessee Wesleyan University.
• Multiple income streams: Six individual rooms with shared living agreements, one full one‑bedroom apartment upstairs, and two one‑bedroom apartments downstairs.

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FAQs

What type of property is this?

Mixed-use property - Mixed-use property with high income potential in downtown Athens.

Where is this mixed-use property located?

The property is located at 205/207 E Washington Ave Athens, TN.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: High income potential: Gross income over $100k/year with a 14% CAP rate.; Prime Downtown Athens location: Walkable to restaurants, coffee shops, shopping, and Tennessee Wesleyan University.; Multiple income streams: Six individual rooms with shared living agreements, one full one‑bedroom apartment upstairs, and two one‑bedroom apartments downstairs.