Johnson City Multifamily for Sale - Downtown Johnson City
Attention investors!
200, 204, and 206 E Watauga Avenue are being offered together as a rare investment portfolio in the heart of Johnson City.
Combined, these properties feature 16 total units with a strong rental history, professional management, and an impressive overall cap rate of approximately 9%.
200 E Watauga, Six (1BR/1BA) apartments generating $77,700 gross annual income. Units have been updated with kitchens, bathrooms, flooring, and appliances. Separate electric meters; tenants cover electricity plus a utility fee for water, sewer, trash, and internet with fees structured to offset expenses for owner.
204 E Watauga, Six (1BR/1BA) apartments producing $75,900 gross annual income. Similar to building 200, units are individually metered for electricity with tenants paying a utility fee. Many updates including new kitchens, new bathrooms, flooring, and new appliances.
206 E Watauga – A versatile quadplex with three (1BR/1BA) units and one spacious (3BR/1BA) ground level unit, together producing $54,600 gross annual income. Two upper units are fully renovated; the 3BR features hardwood floors, tile bath, newer appliances, and a sunroom with spiral staircase. The basement unit offers a stylish, unique design and easy access to a shared laundry/storage area. Utilities are shared, with fees structured to offset owner expenses.
Combined Highlights:
16 total units across three properties
Gross annual income: $207,600
9% cap rate fully rented
Professionally managed by Casa Haven Property Management (with option to continue for seamless transition)
Majority of units updated with modern finishes and appliances
Strong tenant base with utility cost structures in place
Close proximity to schools and hospital.
2.6 miles from ETSU campus
5 miles from Milligan campus
2.6 miles from JCMC
This portfolio is ideal for investors seeking immediate cash flow with long-term growth potential in one of Johnson City’s most desirable rental corridors.
