131 Bob Fitz Rd N
Johnson City, TN 37615

$1,389,000

Description

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.

Details

MLS#418921
Sub-TypeResale
StatusContingent
Year1996
Days On Site29

Features

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Area Information

StateTN
CountyWASHINGTON-TN
CityJohnson City
Zip Code37615
AreaGray/Boones Creek
Listing VS Median (in 37615)
Price:
$1,389,000
low | high
Med:
$173,900
100% of Average
On Site:
29
low | high
Med:
22
100% of Average
Listing Updated: 04/18/2019
MLS Number: 418921
Listing Provided By:
JAY GOODSON  of  REMAX CHECKMATE INC. REALTORS

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