List Price: $244,900
MLS#: 9918769

Premium apartment complex, located just outside the City of Elizabethton. These well established and superbly maintained apartment units are owned by the original owner who built them and has consistently carefully screened tenants, making sure that the units are always in A-1 condition. Two buildings, one a one level duplex, the other three adjacent townhouse units. The duplex apartments each offer one bedroom and one bath. The three townhouse style units each offer one bedroom and 1 and 1/2 baths. Each unit features individual central heating and air conditioning units plus individual laundry facilities. Each unit is metered individually for electricity with the tenants paying their own electric bills. The townhouse units also are separately metered for water bills, but the duplex has one water meter with the owner paying the water bill which averages $50 per month. All five units are in excellent condition and have always been meticulously maintained. The owner has had long term tenants and has left the rents low to eliminate turnover. Current rents are $400 per month for each townhouses and $335 each for the duplex units. The units are greatly under rented in terms of prevailing rent prices, however, all tenants re on a month to month basis, allowing for a new owner to adjust the rents, bringing them in line with today’s rental prices. For investors seeking quality rental property, this five unit complex is above average in terms of condition and is an excellent investment opportunity. The lot is large enough to accommodate at least one more unit on site, possibly tow, if a new owner chooses to add them. This is quality rental property for the smart investor. All info. taken from Tax Records. Buyer/Buyer’s Agent to verify all.

 

Directions: From Broad Street in Elizabethton, turn onto Bristol Highway, right beside of McDonalds. Cross Bristol Bridge. Left on Commodore Avenue. Right on Betterly Place. Apartments are on the right.