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| Bedrooms: | 0 | Full Bathrooms: | 0 | Half Bathrooms: | 0 |
| Type: | Commercial Lease | Sub Type: | MLS Number: | 9984194 | |
| Living Area: | 6,272 | Lot Acreage: | 1 | Year Built: | 1978 |
| Elementary School: | Middle School: | High School: |
Property Description
Presenting 1419 Colony Park - a fully renovated 8-unit multifamily property located in the heart of Johnson City, TN. This stabilized asset offers a rare opportunity to acquire a low-maintenance, cash-flowing investment in one of East Tennessee's most desirable rental markets. Each units are 2 bed and 1.5 baths.
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.
Listing Status
Active
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More Listing Info
AC:Other5 true Business Type:Condo true Contract Info:Foreclosure No Development Status:Finished Lot(s) true Electric Service:Other34 true Exterior Finish:Vinyl Siding true General Property Description:Acres 0.9 General Property Description:Annual Lease 106000.0 General Property Description:HOA YN No General Property Description:Lease Yes General Property Description:Lot Size2 158.14 X 249.34 IRR General Property Description:Total SqFt Finished 6272.0 General Property Description:Total SqFt Unfinished 6272.0 General Property Description:Zoning2 R4 Heating:Other12 true Info Available:Aerial true Location Tax Legal Info:City Taxes 2781.86 Location Tax Legal Info:County Taxes 3513.02 Location Tax Legal Info:Deed Book # 1133 Location Tax Legal Info:Deed Page # 2857 Other Equipment:Additional Building(s) true Property Condition:Above Average true Remarks Misc:Directions3 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. Remarks Misc:Public Remarks7 Presenting 1419 Colony Park - a fully renovated 8-unit multifamily property located in the heart of Johnson City, TN. This stabilized asset offers a rare opportunity to acquire a low-maintenance, cash-flowing investment in one of East Tennessee's most desirable rental markets. Each units are 2 bed and 1.5 baths. 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. Restrictions:Other37 true Road Access:City Street true Roof:Composition true Sale Includes:Other38 true Sewer:Public Sewer true Water:Public true Videos: (none) Virtual Tours: (none)
Listing Courtesy:
True North Real Estate
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