#1280516, Listing Office: Alliance Sotheby's Internation
205/207 E Washington Ave Athens, TN 37303
Property details
About 205/207 E Washington Ave
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.
Highlights
(Pending - Continue to Show - Financing)
Summary
- MLS Number: 1285504
- MLS Name: East Tennessee REALTORS® MLS
- Office Name: VonKeith Properties
- Office Phone: (818) 590-5842
- Office Email: caleb@vonkeith.com
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$650,000
205/207 E Washington Ave
$7,719
closing credit¹
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Price information
Property sales
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Tax history
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Nearby schools
6
Westside Elementary School
Public District 3-5
0.8 mi
•700 Westside St
5
North City Elementary School
Public District 3-5
1.3 mi
•1601 Palos St
6
Meigs North Elementary School
Public District PK-5
12.6 mi
•22015 State Highway 58 N
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $23,500. The majority of Athens, TN residents have income less than $<35k annually. Most families are single, no kids. Most residents in this area have high school diploma education.
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Frequently asked questions
About 205/207 E Washington Ave
This home is located at 205/207 E Washington Ave in Athens, TN and zip code 37303. This 5,412 square foot home, which was built in 1937, sits on a 0.08 acre lot. Features: 0 bathroom. It has been listed on Rocket Homes since December 26, 2024 and is currently priced at $650,000.
Over 5 listings were sold over their listed price in February 2025 in Athens, TN. In the same period over 11 listings were sold below the listed price and 5 listings were sold for the listed price. In February 2025 in Athens, TN there were 2.1% more homes for sale than in January. While the average time on the market in February 2025 was 86 days, the median list price was $269,000.