$1,600,000

1412 Knob Creek Road, Johnson City, TN 37604

  • 1,778 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1965
  • Property Lot Size Icon1.3acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $900/sqft
  • Property List Date Icon Listed 18 days ago

Property Description

Passive income or owner operator! This portfolio consists of 8 units of multifamily being rented out at $1250 per month, two bed, one bath, in newly renovated units, as well as adjacent Commercial building with new roof and renovated exterior. Proforma NOI with Commercial space at $10/NNN will be $126,720, leaving proforma cap rate at 7.9% cap rate. The Old Norris Bicycle building, and adjacent quadplexes are being sold together ONLY! This is your opportunity to diversity your investments with a commercial piece, or put your business into a 4748 sq ft Commercial space all your own, and keep the apartments as rentals. Subdividing of apartments from new condos is underway, and will put the 8 units on approximately one acre of their own land, more or less, with large back yard area. Massive renovations have taken place, and apartments are being re-filled at this time, so see agent for newest and latest rent roll as apartments are completed. Gross income is based on only half of the units filled, as the final 4 are being finished up. Proforma gross income will be $114,000 per year. Lending would be based on proforma at this time. Units do have washer dryer hook up in each unit. Apartments have been completely renovated throughout the exterior, including siding, roof, plumbing, damaged walls, new kitchens, and brand new and beautiful decking. Location is prime, central to town, near shopping and schools, and will remain a conveniently located and beautiful corridor for years to come! Details available upon request from qualified buyers; all info to be verified by buyers/buyers agent. R# 1886

Listing Status:
Active
Date Added:
January 20, 2026
Data Last Updated:
February 7, 2026 at 1:39PM
Listing Office:
REMAX Checkmate, Inc. Realtors : 423-282-0432
Listing Agent:
Jay Goodson : 423-612-3035
MLS ID:
9990357
  • General: Kitchen/Dining ComboRestored
  • Flooring: CarpetLaminateOther
  • A/C: Central AirCeiling Fan(s)
  • Heating: Central
  • Fireplace: Fireplaces: 0
  • Style: See Remarks
  • Parking: Asphalt
  • Windows: Double Pane Windows
  • General: BrickVinyl Siding2Block
  • HOA Amenities: Landscaping
  • Originating MLS: Tennessee/Virginia Regional MLS
  • County: Washington
  • Zoning: B1046i E 013.00
  • Water: Public
  • Sewer: Public Sewer
  • Source: Tennessee/Virginia Regional MLS

Presented by Veterans United Realty

This listing courtesy of Jay Goodson , REMAX Checkmate, Inc. Realtors

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

Woodland Elementary School

2303 Indian Ridge Rd, Johnson City, TN, 37604

Grades PK-4

1.39 miles away

L

Liberty Bell Middle School

718 Morningside Dr, Johnson City, TN, 37604

Grades 7-8

0.39 miles away

S

Science Hill High School

1509 John Exum Pkwy, Johnson City, TN, 37604

Grades 9-12

0.64 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.