3411 W Walnut St Johnson City, TN 37604
- Commercial real estate
- 4,125 SF
- 0.39 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 3411 W Walnut St
- Year built
- 1965
- Lot size
- 0.39 lot acres
- Property size
- 4,125 SF
- Property type
- Commercial real estate
- APN
- 053o B 006.00
Description
This well-maintained, six-unit apartment building in Johnson City, Tennessee, presents a compelling investment opportunity. Located at 3411 West Walnut Street, this two-story Class B property boasts 4,125 square feet on a 0.39-acre lot (APN: 053o B 006.00). Built in 1965, the building features a mix of unit sizes: two 2-bedroom/1-bathroom units on the upper level, two similar units on the main level, and two 1-bedroom/1-bathroom units on the lower level. All units are equipped with tile flooring, fresh paint, and newer appliances. Currently generating $54,960 in annual rental income, this property offers significant upside potential due to below-market rents. Long-term tenants contribute to stable cash flow. The property's strong location in the heart of Johnson City and its potential for increased rental income make it an attractive investment. The asking price is $750,000 ($125,000 per unit, $181.82 per square foot). This represents a solid return on investment, further enhanced by the opportunity to raise rents to market value. The property's dimensions are approximately 99.89 feet by 176 feet.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Johnson City
- County
- Washington
- State
- Tennessee
- Longitude
- -82.4184213
- Latitude
- 36.2979709
