West Haven Apartments — Sale in Johnson City, TN

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

Photos

West Haven Apartments — Sale in Johnson City, TN, photo 1 of 3
West Haven Apartments — Sale in Johnson City, TN, photo 2 of 3
West Haven Apartments — Sale in Johnson City, TN, photo 3 of 3

Investment Figures

Cap rate
8.00%

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 West Haven 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. West Haven Apartments is a 24 unit multifamily asset in Johnson City offering stable in place cash flow supported by strong occupancy and steady leasing demand. Ownership has invested over $100,000 in recent capital improvements, including a new roof, unit renovations, and exterior upgrades, reducing near term capital requirements. All units feature tenant paid utilities, driving efficient operations and expense control. Consistent unit upgrades and in unit washer and dryer hookups support tenant retention while providing a clear path for continued rent growth. 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 West Haven Apartments. Investment Highlights: • 24-Unit community with a mix of one- and two-bedroom units • In the past 36-months current ownership has spent $104,164 in capital expenditures. Recent capital expenditures consist of new signage, unit renovations, and replacing the roof (2025) • All units include washer and dryer connections with many units already containing machines

Market Context

This multifamily in Johnson City, TN is listed for sale. It is offered at an approximate 8.0% 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.

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