205-207 East Washington Avenue
Athens, TN 37303
$650,000
Price
—
Beds
5,412 Sq. Ft.
$120 / Sq. Ft.
5,412
Sq. Ft.
$120
per Sq. Ft.
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. 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...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. 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.
- Listed by Christopher T Lizarraga • VonKeith Properties
Property Details for 205-207 East Washington Avenue
Sub division Name
Orig Town Of Athens
LISTING UPDATED: 01/05/2025 09:53 PM
Property Details for 205-207 East Washington Avenue
| Status | Active |
|---|---|
| MLS # | 1285504 |
| Days on Market | 15 |
| Taxes | $1,043 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family |
| Year Built | 1937 |
| Lot Size | 0.08 AC / 3,484 SF |
| County | McMinn County |
Building Information for 205-207 East Washington Avenue
Stories-Residences10Year Built1937Building Size-Lot Size0.08 AC / 3,484 SF
Property Information for 205-207 East Washington Avenue
Summary
Location and General Information
- City: Athens
- County Or Parish: McMinn County - 40
- Directions: 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.
- Latitude: 35.443334
- Longitude: -84.591647
- MLS Area Major: McMinn County - 40
- MLS Area Minor: McMinn County - 40
- Postal Code: 37303
- State Or Province: TN
- Location Tax Legal Info Area: McMinn County - 40
- Remarks Misc Directions: 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.
Parking
- Attached Garage: No
- Parking Features: On-Street Parking
- General Property Description Driveway: None
- Garage Parking On-Street Parking: True
School Information
- Elementary School: Athens City Primary
- Middle Or Junior School: Athens
- Location Tax Legal Info Elementary School: Athens City Primary
- Location Tax Legal Info Middle School: Athens
Taxes and HOA Information
- Association Fee: 0.0
- Parcel Number: 056M D 050.00
- Owner Expenses Taxes: True
- Location Tax Legal Info Total Tax: 1043.38
Virtual Tour
- Virtual Tours Count: 0
Property
Lot Information
- Lot Size Area: 3485.0
- Lot Size Units: Square Feet
- Lot Size Square Feet: 3485.0
- Year Built: 1937
- Building Area Total: 5412.0
- Living Area Source: Tax Records
- Lot Size Acres: 0.08
- Lot Size Dimensions: 36.5X83.4
- General Property Description SqFt - Source: Tax Records
- General Property Description Lot Dimensions: 36.5X83.4
- General Property Description Lot Size SqFt: 3485.0
Property and Assessments
- Possession: At Closing
- Property Type Label: Multi-Family
- Floor Plans Count: 0
- Property Type: Multi-Family
- Possession At Closing: True
Utilities
- General Property Description UtilitiesMo Avg: 950.0
- Fuel Electric: True
- Fuel Gas (Natural): True
- Misc Features Internet Available: True
Interior and Exterior Features
Exterior Features
- Construction Materials: Brick
- Siding Brick: True
- Misc Features Other: True
Interior Features
- Bathrooms Total Integer: 0
- Kitchen Appliances: Microwave, Refrigerator, Other
- Flooring: Hardwood, Other, Tile
- Heating: Yes
- Floors Hardwood: True
- Floors Tile: True
- Heat Baseboard: True
- Heat Ceiling: True
- Appliances Microwave: True
- Appliances Refrigerator: True
- Appliances Other: True
- Other Rooms Other: True
- Roof Other: True
Multi Family
Income & Expenses Information
- Gross Income: $115,350.00
- Net Operating Income: $91,190.00
- OperatingExpense: $24,160.00
Multi-Family Information
- Number Of Units Total: 10
- Type of Units 1 Bedroom Unit: True
- Type of Units Unfurnished: True
- Type of Units Other: True
- Income Expenses Gross Annual Income: 115350.0
- Income Expenses Annual Oper Expenses: 24160.0
Unit 1
- Unit 1 Unit Number: 20
- Unit 1 Rent: 175/week
Unit 2
- Unit 2 Unit Number: 21
- Unit 2 Rent: 175/week
Unit 3
- Unit 3 Unit Number: 22
- Unit 3 Rent: 175/week
Unit 4
- Unit 4 Unit Number: 23
- Unit 4 Rent: 175/week
Unit 5
- Unit 5 Unit Number: 24
- Unit 5 Rent: 175/week
Unit 6
- Unit 6 Unit Number: 25
- Unit 6 Rent: 175/week
Unit 7
- Unit 7 Unit Number: 26
- Unit 7 Beds Total: 1
- Unit 7 Rent: 250/week
Unit 8
- Unit 8 Unit Number: 1A
- Unit 8 Beds Total: 1
- Unit 8 Rent: 250/week
Unit 9
- Unit 9 Unit Number: 1B
- Unit 9 Beds Total: 1
- Unit 9 Rent: 250/week
Unit 10
- Unit 10 Unit Number: 205
- Unit 10 Rent: 350/week
Rental
Rent Information
- Tenant Expenses Heating: Ceiling,Natural Gas,Baseboard,Electric
Property History for 205-207 East Washington Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 205-207 East Washington Avenue
This home is within Athens School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 2 | |||
| Public - | 6 to 8 | |||
| Public - | PK to 2 | |||
| Public - | 3 to 5 |
Rating | School | Distance |
|---|---|---|
Ingleside Elementary School PublicPK to 2 | ||
Athens City Middle School Public6 to 8 | ||
City Park Elementary School PublicPK to 2 | ||
Westside Elementary School Public3 to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of VonKeith Properties, Christopher T Lizarraga
The information is being provided by MTRMLS, Inc. Properties marked with the MTRMLS logo are provided courtesy of the RealTracs Internet Data Exchange Program. Information is believed to be accurate but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2025 MTRMLS, Inc. All Rights Reserved. Last updated: 01/05/2025 09:53 PM