205/207 Washington Ave Active Save Request In-Person Tour Request Virtual Tour
Athens,TN 37303
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,412 sqft
Price per Sqft $120
Subdivision Orig Town Of Athens
MLS Listing ID 1285504
Originating Board East Tennessee REALTORS® MLS
Year Built 1937
Lot Size 3,484 Sqft
Acres 0.08
Lot Dimensions 36.5X83.4
Property Description
Huge income potential in Downtown Athens! Located in the heart of the city this property currently produces a gross income of over $100k a year and yields a 14% CAP rate. A return like this is unheard of! This property has so much to offer nearby and is conveniently walkable to restaurants, a coffee shop, shopping, and Tennessee Wesleyan University. It is the perfect property to own as the downtown area grows. All of the occupants have shared living agreements and pay weekly for their units. As you walk upstairs you will find a hallway with new flooring that leads to six individual rooms, a shared kitchen with newer cabinets, and shared single restrooms assigned by gender. The kitchen provides an electric stove/oven, refrigerator, and microwave that is shared by the occupants. In addition to the individual rooms, this building also boasts one full one bedroom apartment unit upstairs and two downstairs. All three of the one bedroom units have been remodeled. Unit 205 is a commercial space with hardwood floors, currently being rented as a boutique with large display windows that look out to Washington Ave. Don't miss out on the rare chance to own this piece of Downtown Athens.
Location
State TN
County Mcminn County - 40
Area 3485.0
Rooms
Other Rooms Other, Office
Interior
Heating Ceiling,Natural Gas,Baseboard,Electric
Cooling Other
Flooring Hardwood,Other,Tile
Appliance Microwave,Refrigerator,Other
Heat Source Ceiling,Natural Gas,Baseboard,Electric
Exterior
Parking Features On-Street Parking
Garage Description On-Street Parking
Roof Type Other
Garage No
Building
Faces From I-75 head East on TN-30. Turn Right onto N Jackson St. Continue onto N White St. Turn right onto W Washington Ave.
Structure Type Brick
Schools
Elementary Schools Athens City Primary
Middle Schools Athens
Others
Tax ID 056M D 050.00
Energy Description Electric, Gas(Natural)
Acceptable Financing VA Loan,New Loan,FHA,Cash,Conventional
Listing Terms VA Loan,New Loan,FHA,Cash,Conventional