For Sale
$3,500,000

1315 Indian Ridge Rd Johnson City, TN 37604

30-Unit Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional 30-unit apartment building in Johnson City, Tennessee, presents a compelling investment opportunity. Located at 1315 Indian Ridge Rd, 37604, this meticulously maintained property boasts three all-brick buildings constructed in 2004. Each unit features one bedroom and one bathroom. The property sits on a 2.1-acre lot and is zoned R-5, offering potential for future development or expansion. Under the same ownership since 2015, the complex has benefited from significant capital improvements, ensuring a high-quality product for potential renters. The property's prime location in the heart of Johnson City promises strong rental demand and potential for rent increases. While the seller is not providing a trailing twelve-month financial statement or profit and loss statement, this turnkey investment is ready for a new owner to capitalize on its inherent value. Note that the seller owns three additional apartment complexes also available for purchase. This is a rare opportunity to acquire a well-maintained, established multifamily property in a thriving Tennessee market.

Highlights

  • $3,500,000 asking price.
  • 30-unit apartment building in Johnson City, TN.
  • Three buildings on a 2.1-acre lot.
  • Built in 2004; R-5 zoning.
  • All brick, one-bedroom, one-bathroom units.
  • Well-maintained property with potential for rent increases.

Property Details for 1315 Indian Ridge Rd

Property type
Apartment buildings
Year Built
2004
Buildings
3
Lot Size (sq. ft)
91,476 SF
Units
30

Location Insight

City
Johnson City
County
Washington
State
Tennessee
Latitude
36.315855143308
Longitude
-82.38285050651

FAQs

What type of property is this?
Apartment building - 30-Unit Multifamily Investment Opportunity
Where is the apartment building located?
The property is located at 1315 Indian Ridge Rd Johnson City, TN.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: $3,500,000 asking price.; 30-unit apartment building in Johnson City, TN.; Three buildings on a 2.1-acre lot.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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1315 Indian Ridge Rd
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