UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Rent
Square Footage 6,272 sqft
MLS Listing ID 9984194
HOA Y/N No
Total Fin. Sqft 6272
Year Built 1978
Lot Size 0.900 Acres
Acres 0.9
Lot Dimensions 158.14 X 249.34 IRR
Source Tennessee/Virginia Regional MLS
Property Description
The property has undergone extensive recent improvements, including a new roof, updated gutters, fresh exterior paint, and full plumbing upgrades to PEX in most units. Multiple units have been modernized with updated flooring, appliances, fixtures, and fresh interior finishes. Foundation stabilization, landscaping, and tree removal have also been completed, enhancing both structural integrity and curb appeal.
Located just minutes from East Tennessee State University and Johnson City Medical Center, the property benefits from strong, consistent tenant demand from students, healthcare professionals, and long-term renters. Proximity to shopping, dining, and major employers adds to its desirability.
Highlights:
8 fully rented units with upside in rent growth
Major renovations completed—minimal deferred maintenance
Strong tenant base and location-driven demand
Less than 5 minutes to ETSU and Johnson City Medical Center
Located in a high-demand rental corridor with long-term growth potential
This is a plug-and-play investment opportunity ideal for both new and experienced multifamily investors looking for stable cash flow and long-term appreciation.
Contact today for rent roll, financials, and private tour scheduling.
Location
State TN
County Washington
Area 0.9
Zoning R4
Direction Take I-81 to I-26 East toward Johnson City. Follow I-26 for about 20 miles, then take Exit 19 for State of Franklin Road. Turn left onto State of Franklin, then right onto Colony Park Drive. Continue straight to reach 1419 Colony Park Drive, located in a quiet residential neighborhood.
Interior
Heating Other
Cooling Other
Equipment Additional Building(s)
Heat Source Other
Exterior
Roof Type Composition
Road Frontage City Street
Building
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding
New Construction No
Others
Senior Community No
Tax ID 062a A 015.03
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Kornerstone Properties
Company Owner | License ID: 265226
Company Owner License ID: 265226