Debbie Reed

Broker | License ID: 315570

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$ 650,000

Est. payment -/mo

Sold on 04/10/2025

205/207 Washington Ave Athens, TN 37303

5,412 SqFt

UPDATED:

Key Details

Sold Price $650,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 5,412 sqft

Price per Sqft $120

Subdivision Orig Town Of Athens

MLS Listing ID 1285504

Sold Date 04/10/25

Originating Board East Tennessee REALTORS® MLS

Year Built 1937

Lot Size 3,484 Sqft

Acres 0.08

Lot Dimensions 36.5X83.4

Property Description

Huge income potential in Downtown Athens! Located in the heart of the city this property currently produces a gross income of over $100k a year and yields a 14% CAP rate. A return like this is unheard of! This property has so much to offer nearby and is conveniently walkable to restaurants, a coffee shop, shopping, and Tennessee Wesleyan University. It is the perfect property to own as the downtown area grows. All of the occupants have shared living agreements and pay weekly for their units. As you walk upstairs you will find a hallway with new flooring that leads to six individual rooms, a shared kitchen with newer cabinets, and shared single restrooms assigned by gender. The kitchen provides an electric stove/oven, refrigerator, and microwave that is shared by the occupants. In addition to the individual rooms, this building also boasts one full one bedroom apartment unit upstairs and two downstairs. All three of the one bedroom units have been remodeled. Unit 205 is a commercial space with hardwood floors, currently being rented as a boutique with large display windows that look out to Washington Ave. Don't miss out on the rare chance to own this piece of Downtown Athens.

Location

State TN

County Mcminn County - 40

Area 3485.0

Rooms

Other Rooms Other, Office

Interior

Heating Ceiling, Natural Gas, Baseboard, Electric

Cooling Other

Flooring Hardwood, Tile, Other

Appliance Microwave, Refrigerator, Other

Heat Source Ceiling, Natural Gas, Baseboard, Electric

Exterior

Parking Features On-Street Parking

Garage Description On-Street Parking

Roof Type Other

Garage No

Building

Faces From I-75 head East on TN-30. Turn Right onto N Jackson St. Continue onto N White St. Turn right onto W Washington Ave.

Structure Type Brick

Schools

Elementary Schools Athens City Primary

Middle Schools Athens

Others

Tax ID 056M D 050.00

Energy Description Electric, Gas(Natural)

Acceptable Financing VA Loan, New Loan, FHA, Cash, Conventional

Listing Terms VA Loan, New Loan, FHA, Cash, Conventional

Listed by VonKeith Properties

Debbie Reed

Broker | License ID: 315570

+1(865) 300-2313