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Thank you for choosing Daniel Parker! As one of the Knoxville area's premier Real Estate Brokers, I am uniquely qualified to help you find the perfect property. On the lake, around town or out on a farm. Remember, BJ is here to help!
205/207 E Washington Ave, Athens, 37303
Priced At: $650,000
Property Details for ID: 1285504
SqFt: 5,412
Price SqFt: $120
Total Bedrooms: ********
Full Baths: ******** / Half Baths: ********
MLS Status: Pending - Continue to Show - Financing
Property Type: MultiFamily
On Market Date: 2025-01-18T15:31:39Z
Subdivision: Orig Town Of Athens
Public Remarks: 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.
Schools Information
Elementary School: Athens City PrimaryMiddle / Junior School: Athens
High School:
Building Description
SqFt (Total): 5,412
Exterior Features
Appliances
Room Dimensions
Interior Features
Property Details
Utilities
Financing
Annual Operating Expenses: 24,160
Net Operating Income: 91,190
HOA Information
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Up Coming Open Houses
Directions
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.
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Four Reasons to Use Daniel Parker
Buying or Selling real estate should be fun and simple. With me, that's exactly what you can expect. I will strive to make each and every interaction a professional and pleasant experience!