$1,275,000

306 S Watauga

Elizabehton TN, 37643

Description

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.

Details

MLS#421381
Sub-TypeResale
StatusActive
Year1935
Days On Site164

Features

Loading Form

Loading Form

Area Information

StateTN
CountyCARTER
CityElizabehton
Zip Code37643
AreaCity of Elizabethton
Listing VS Median (in 37643)
Price:
$1,275,000
low | high
Med:
$124,900
100% of Average
On Site:
164
low | high
Med:
188.5
87.002652519894% of Average
Listing Updated: 10/20/2019
MLS Number: 421381
Listing Provided By:
JAY GOODSON  of  REMAX CHECKMATE INC. REALTORS

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.