131 Bob Fitz Rd Johnson City, TN 37615

Jay Goodson
Jay Goodson
Associate

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234233494 36.4004 -82.48494 2561 /listing/234233494-151230928/131-bob-fitz-rd-johnson-city-tn-37615 False 0 1389000.0 105 418921 True
  • $1,389,000
  • 131 Bob Fitz Rd Johnson City, TN 37615
  • 1.84 lot
  • Est payment $7456.45/mo

Property & Neighborhood Info

Courtesy Of REMAX CHECKMATE, INC. REALTORS

Multifamily in Johnson City

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.

Courtesy Of REMAX CHECKMATE, INC. REALTORS
  1. 1.84 Lot

Main Features

  • Listing Status: Active
  • Year Built: 1996
  • School District: RIDGEVIEW
  • School District2: RIDGEVIEW
  • School District3: DANIEL BOONE
  • County: Washington
  • Taxes: $2,940.00
  • Units: 29
  • Zoning: R
  • MLS Number:418921

Additional Features

  • Cooling:
    • CENTRAL
  • Style:
    • 1 Story
    • Townhouse
  • Water/Sewer:
    • Sewer-Public
    • Water-Public
  • Condition:
    • Above Avg
  • Exterior Finish:
    • BRICK
  • Acres:
    • 1.84
  • Showing Instructions:
    • Call LA
  • Foreclosure:
    • No
  • Net Income:
    • 95675
Neighborhood info courtesy of Homes.com © 2019

What's My Mortgage?

$38,769.95*
*Estimated monthly payment is a starting point to help assist you with your home search. To find out more about mortgage pre-qualification, click here.