This Multifamily Property is Off-Market.

121 Lynn Road
Johnson City, TN 37604 ·

32 Units · Multifamily For Sale

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American Furnished Apartments

Price N/A Property Sub-type Mid/High-Rise
No. Units 32 Property Use Type Investment
Building Size 15,906 SF Cap Rate 9%
Property Type Multifamily APN / Parcel ID 053C-B-013.04
Listing ID: 17930388 Date Created: 11/29/2012 Last Updated: 06/10/2014

Description

Excellent Investment Opportunity - 99 % Occupancy, 9% Cap Rate, On Site Resident Manager, No Renter Headaches- Seller willing to contiune with current Property Management of the facility. This 32 unit all brick apartment building is only minutes away from the 3 largest employers in Johnson City. Each fully furnished apartment includes LR, DR & BR furniture, all appliances, 2- color TV's, DVD Player,WiFi access, 24 hr. Laundry on Premises.** This property is shown by Appointment Only - please contact the Listing Broker.** Rent Rolls & Pro Forma's are available upon request. This low maintenance building was newly built in 2000 overlooking Buffalo Mountain.This a wonderful opportunity for anyone needing to identify a replacement property for a 1031 Exchange- with a impressive cash flow.

Just 1.2 miles from the busiest intersection in Northeast Tennessee and directly across 11E Highway from Super Walmart Center. Take State of Franklin Rd. south and turn right onto W. Market St. travel 1.2 miles and then turn right onto Lynn Road. Property will be on you left, no for sale sign in the yard.

Research

121 Lynn Road, Johnson City, TN 37604 (Washington County)

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