3411 West Walnut Street | 3411 W Walnut St
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3411 West Walnut Street 3411 W Walnut St
6 Unit Apartment Building $750,000 ($125,000/Unit) Johnson City, TN 37604
Investment Highlights
- Close to college
- Mostly updated with little continual maintenance
- Long term tenants
Executive Summary
Beautiful 6 unit apartment building in the heart of Johnson City, TN. This building currently has rents below market value and brings in $54,960 a year. The upstairs has 2-(2bed/1bath) units The main level has 2-(2bed/1bath) units. and back side of the building on the lowest level there are 2-(1bed/1bath) units All units have tile flooring, fresh paint, and newer appliances. Contact myself or you go to real estate agent for more information.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$67,200
|
$16.29
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$67,200
|
$16.29
|
| Taxes |
$1,656
|
$0.40
|
| Operating Expenses |
$3,419
|
$0.83
|
| Total Expenses |
$5,075
|
$1.23
|
| Net Operating Income |
$62,125
|
$15.06
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $67,200 |
| Annual Per SF | $16.29 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $67,200 |
| Annual Per SF | $16.29 |
| Taxes | |
|---|---|
| Annual | $1,656 |
| Annual Per SF | $0.40 |
| Operating Expenses | |
|---|---|
| Annual | $3,419 |
| Annual Per SF | $0.83 |
| Total Expenses | |
|---|---|
| Annual | $5,075 |
| Annual Per SF | $1.23 |
| Net Operating Income | |
|---|---|
| Annual | $62,125 |
| Annual Per SF | $15.06 |
Property Facts
| Price | $750,000 | Building Class | C |
| Price Per Unit | $125,000 | Lot Size | 0.39 AC |
| Sale Type | Investment | Building Size | 4,125 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1965 |
| Apartment Style | Low Rise |
| Price | $750,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 4,125 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
Unit Amenities
- Air Conditioning
- Balcony
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 687 |
| 1+1 | 2 | - | 687 |
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PROPERTY TAXES
| Parcel Number | 053O-B-006.00 | Total Assessment | $77,000 (2022) |
| Land Assessment | $9,160 (2022) | Annual Taxes | $1,656 ($0.40/SF) |
| Improvements Assessment | $67,840 (2022) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
053O-B-006.00
Land Assessment
$9,160 (2022)
Improvements Assessment
$67,840 (2022)
Total Assessment
$77,000 (2022)
Annual Taxes
$1,656 ($0.40/SF)
Tax Year
2024
-
Matt McCrory -
True North Real Estate Advisors
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3411 West Walnut Street | 3411 W Walnut St
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