$2,800,000
$3,060,000
8.5%For more information regarding the value of a property, please contact us for a free consultation.
35,076 SqFt
SOLD DATE : 07/07/2025
Key Details
Sold Price $2,800,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 35,076 sqft
Price per Sqft $79
Subdivision Orleans Terrace
MLS Listing ID 1292776
Sold Date 07/07/25
Year Built 2006
Source East Tennessee REALTORS® MLS
Property Description
Located in Johnson City, TN, Orleans Terrace was built in 2006 and is comprised of 36 units. This affordable apartment community is 97% occupied and has a unit mix consisting of 1, 2, and 3 bedroom units. Community amenities include disability access, playground, and emergency maintenance. Each unit has washer / dryer hookups. Orleans Terrace is currently facing an average rental deficit of $200 per unit when compared to the maximum rent limits set by HUD.
This property is part of a 148 unit, three property LIHTC portfolio being sold in East Tennessee.
Location
State TN
County Washington County
Rooms
Other Rooms Other
Interior
Heating Central
Cooling Central Cooling
Flooring Carpet, Tile
Heat Source Central
Exterior
Parking Features On Premise Parking
Garage Description On Premise Parking
Roof Type Shingle
Garage No
Building
Faces Turn left onto E Main St (TN-91). Go for 0.3 mi. Turn right onto Topeka St. Go for 0.2 mi. Turn right onto Orleans St. Go for 463 ft. Turn left. Go for 161 ft. Arrive at property.
Structure Type Brick
Others
Tax ID 047I J 015.00
Energy Description Other Fuel
Acceptable Financing New Loan, Cash, Conventional
Listing Terms New Loan, Cash, Conventional
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