3,144 SqFt
3,144 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,144 sqft
Price per Sqft $413
MLS Listing ID 9984195
Style Townhouse
HOA Y/N No
Year Built 1978
Lot Size 0.900 Acres
Acres 0.9
Lot Dimensions 158.14 X 249.34 IRR
Property Sub-Type Multi Family
Source Tennessee/Virginia Regional MLS
Property Description
The property has undergone extensive recent improvements, including a new roof, updated gutters, fresh exterior paint, and full plumbing upgrades to PEX in most units. Multiple units have been modernized with updated flooring, appliances, fixtures, and fresh interior finishes. Foundation stabilization, landscaping, and tree removal have also been completed, enhancing both structural integrity and curb appeal.
Located just minutes from East Tennessee State University and Johnson City Medical Center, the property benefits from strong, consistent tenant demand from students, healthcare professionals, and long-term renters. Proximity to shopping, dining, and major employers adds to its desirability.
Highlights:
8 fully rented units with upside in rent growth
Major renovations completed—minimal deferred maintenance
Strong tenant base and location-driven demand
Less than 5 minutes to ETSU and Johnson City Medical Center
Located in a high-demand rental corridor with long-term growth potential
This is a plug-and-play investment opportunity ideal for both new and experienced multifamily investors looking for stable cash flow and long-term appreciation.
Contact today for rent roll, financials, and private tour scheduling.
Location
State TN
County Washington
Area 0.9
Zoning R4
Direction Take I-81 to I-26 East toward Johnson City. Follow I-26 for about 20 miles, then take Exit 19 for State of Franklin Road. Turn left onto State of Franklin, then right onto Colony Park Drive. Continue straight to reach 1419 Colony Park Drive, located in a quiet residential neighborhood.
Interior
Heating Heat Pump
Cooling Heat Pump
Flooring Luxury Vinyl
Equipment Satellite Dish
Appliance Dishwasher, Range, Refrigerator
Heat Source Heat Pump
Exterior
Exterior Feature Balcony
Parking Features Asphalt
Roof Type Composition
Topography Sloped, Level
Building
Entry Level Two
Foundation Block
Sewer Public Sewer
Water Public
Architectural Style Townhouse
Structure Type Vinyl Siding
New Construction No
Schools
Elementary Schools Cherokee
Middle Schools Liberty Bell
High Schools Science Hill
Others
Senior Community No
Tax ID 062a A 015.03
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Agent | License ID: 354366
308 N PETERS RD. STE 225, KNOXVILLE, TN, 37922, United States