Multifamily Property for Sale in Johnson City, TN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Johnson City, TN 37604
  • Size: 79,093 SF

Description

Marcus & Millichap has been selected to exclusively market for sale the Johnson City Multifamily Portfolio. This offering provides investors with a rare opportunity to acquire a value-add multifamily portfolio in the highly sought-after Tri-Cities region of Tennessee. The Johnson City Multifamily Portfolio offers a diversified mix of 93 units across six well-maintained communities with strong in-place occupancy, consistent demand, and proven rent performance. The properties feature a range of one- and two-bedroom floor plans with predominantly tenant-paid electricity and selective tenant-paid water, creating an efficient operating profile. Recent capital improvements across the portfolio include replacing some of the roofs, interior upgrades as units turn, and exterior enhancements reducing near-term capex while supporting continued rent growth. Stable month-to-month tenancy and ongoing renovations position the portfolio for immediate cash flow and long-term value appreciation in a growing Johnson City rental market. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. At no point should tenants or staff be contacted regarding the sale of the Johnson City Multifamily Portfolio. Investment Highlights: • Total 2021–2026 capital expenditures are approximately $551,708, with much of the work already completed or in process as of early 2026. • Across 2025–2026, ownership completed or is completing 35 unit renovations, averaging about $5,000 per unit. • The portfolio consists of 93 units across a mix of one-bedroom, two-bedroom, and select 2BR/1.5BA townhome-style units. • There is room to increase rents across the board b

Market Context

This multifamily in Johnson City, TN is listed for sale across 79,093 SF. It has been on the market for 89 days. Compare it against other multifamily listings for sale in Johnson City, TN — <a href="/search/sale/multifamily/tennessee/johnson-city">view the full market</a>.

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