1112 King Springs Rd Johnson City, TN 37601

- 29 1 Bedroom 750 sq ft units
- located close to downtown, mountain view elementary school, and less than a half mile away from the Tweetsie Trail. Amazing location for sustained growth
- 3 tenants landlord pays power an extra $150 is added to their rent for power
- 26 out of 29 units have been remodeled with LVP flooring new baseboards 3 remaining units that have not been remodeled have tenants who've been there for over 10 years and keep their apartments clean
- All of the front exterior windows in building are brand new
- 15 out of 29 brand new exterior front doors
- 4 units have new cabinets and countertops
- All units that leases have expired rent has been raised to $560/month all new tenants have leases signed for $575/month
- Backside of the building has 10 new windows
- Roof is 8 years old 30 year architectural shingle
- All of the downstairs sewer have been replaced and with added boots for easy access in case of blockage
- Several units have new interior doors
-14 new air conditioners
- On site laundry room
- On site office space/leasing room
- 2 storage buildings on property
- Wall A/C and Baseboard heat
- Landlord pays water
- 4 tenants receive partial/full section 8 vouchers
- 3 units newly remodeled & ready will be rented by the end of the week
- 2 tenants under eviction units will be remodeled and rented by 6/10/22

Future Capex Improvements
Painted brick
Metal roof
Remainder of back side of building new windows
New parking lots
Overview
Building was purchased in 2018. Over $200,000 in renovations completed on the building since purchase. Purged non paying and non clean tenants. Front doors have been replaced as needed. Interior bedroom and bathroom doors replaced as needed. All of the units minus 3 tenants who've been there for 10+ years and who keep their units clean have been remodeled. Every tenant on brand new leases with updated rents at $560. 14 New air conditioners. All of the tenants on location keep their units r