Milligan View Apartments — Sale in Johnson City, TN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Johnson City, TN 37601

Photos

Milligan View Apartments — Sale in Johnson City, TN, photo 1 of 3
Milligan View Apartments — Sale in Johnson City, TN, photo 2 of 3
Milligan View Apartments — Sale in Johnson City, TN, photo 3 of 3

Investment Figures

Cap rate
6.55%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been selected to exclusively market for sale the Milligan View Apartments. This offering provides investors with a rare opportunity to acquire a value-add multifamily property in the highly sought-after Tri-Cities region of Tennessee. Milligan View Apartments is a 28-unit multifamily asset in Johnson City offering immediate in-place cash flow with operational upside through unit upgrades and utility efficiencies. The property has benefited from nearly $100,000 in recent capital improvements including paving, deck renovations, unit updates, and exterior upgrades, reducing near-term capital needs. A portion of the unit mix includes central HVAC and washer and dryer hookups, supporting tenant retention and long-term occupancy stability. Additional upside exists through restructuring owner-paid utilities and continuing interior improvements across the remaining units. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. At no point should tenants or staff be contacted regarding the sale of the Milligan View Apartments. Investment Highlights: • 28-unit asset with a diverse mix of one-bed and two-bed floor plans ranging from 450 to 966 square feet • Rents range from $725 to $1,100 creating natural rent segmentation and upside potential • In the past 36-months current ownership has spent $99,114 in capital expenditures. Recent capital expenditures consist of repaving, renovating decks, renovating units, and new signage

Market Context

This multifamily in Johnson City, TN is listed for sale. It is offered at an approximate 6.5% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Johnson City, TN — view the full market.

Contact

Explore this market

Similar Multifamily Property for Sale in Johnson City, TN