60 Units - Johnson City, TN

Multi-Family for Sale
Catylist Listing ID: 30841168
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden
Number of Units: 60 Units
Building Size (RSF): 73,149 SF
Gross Building Area: See Agent
Sale Price: $10,200,000
Unit Price: $170,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/30/2023

Overview / Comments

SVN | Wood Properties of Knoxville has been selected to exclusively market and to present the opportunity to acquire Buffalo Creek Apartments. A 60-unit valued add opportunity located in Johnson City, TN. This property is priced as a finished product but can be bought at a discounted price determined by the phase of
the renovations.

Buffalo Creek Apartments consists of six (10) unit 2 bedroom / 1 bath apartments with a remodeled laundromat space, office building with storage and 8 mini storage units. 5 buildings are townhouse style with 2 bedroom and 1 bath on upper level and kitchen/living area on the main level. The other building consist of single level apartments with 5 units up and 5 units down.

Buffalo Creek represents an appealing opportunity to purchase this value-add asset allowing incoming ownership to continuing to renovate existing units, getting rents to market, and generating additional income + equity.

Additional Details

Nearest MSA: Johnson City
County: Washington
Tax ID/APN: 055 00601 000055

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,900 27,816 68,396
Median Age: 32.63 37.57 38.47
Households: 1,959 11,842 28,923

Contact

Photograph of Listing Agent

Kevin Tipton

SVN I Wood Properties
KAAR CIE Member
Photograph of Listing Agent

Jon Roosen

SVN l Wood Properties
KAAR CIE Member
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