1109 University Pky | Johnson City, TN 37604
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- LoopNet Team
1109 University Pky
Johnson City, TN 37604
The Harbor · Multifamily Property For Sale
·
176 Units
Investment Highlights
- Growing East Tennessee State University: ETSU’s enrollment continues to grow steadily, with a 30% increase in first-year enrollment over the past 4yrs
- Well-maintained, high-quality 2014 product: Spacious units with 100% bedroom/bathroom parity and best-in-class amenities.
- Strong financial performance: Rental rates for all unit types are increasing, with opportunities to boost revenue in the first year of ownership
- Unparalleled campus location: Prime location just minutes from ETSU, providing students with easy access to campus, local amenities, etc.
- 90% occupied with significant rental upside: Strong existing cash flow with value-add opportunities through additional lease-up
- Opportunity to enhance amenity package: The competitive amenity package offers strong value, with potential upgrades that could drive rent increases
Property Facts
| No. Units | 176 | Lot Size | 11.21 AC |
| Property Type | Multifamily | Building Size | 281,348 SF |
| Property Subtype | Apartment | Average Occupancy | 88% |
| Apartment Style | Mid-Rise | No. Stories | 4 |
| Building Class | B | Year Built | 2014 |
| No. Units | 176 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 11.21 AC |
| Building Size | 281,348 SF |
| Average Occupancy | 88% |
| No. Stories | 4 |
| Year Built | 2014 |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
Site Amenities
- Fitness Center
- Pool
- Tenant Controlled HVAC
- Tanning Salon
- Cabana
- Furnished Units Available
- Pet Play Area
- Community-Wide WiFi
- Roommate Matching
- Shuttle To Campus
- Study Lounge
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 64 | - | 926 |
| 4+4 | 112 | - | 1,404 |
Property Taxes
| Parcel Number | 054B-J-040.00 | Improvements Assessment | $8,820,880 |
| Land Assessment | $1,608,160 | Total Assessment | $10,429,040 |
Property Taxes
Parcel Number
054B-J-040.00
Land Assessment
$1,608,160
Improvements Assessment
$8,820,880
Total Assessment
$10,429,040
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