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1419 Colony Park Drive

Johnson City, TN 37604

$1,219,000 $5,139/Mo

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Description

8-Unit Multifamily Investment Opportunity Now available--well-maintained 8-unit townhome-style complex in a prime Johnson City location offering strong occupancy and immediate income potential. The property features eight 2-bedroom, 1.5-bath units, with a convenient half bath on the main level and full bath upstairs. Currently, 7 units are occupied with 1 unit intentionally left vacant for showings, providing easy access for prospective buyers without disrupting tenant stability. Many units have been updated with new flooring, PEX plumbing, and updated appliances, offering a more modern feel while helping reduce ongoing maintenance. The property has been consistently cared for and presents a solid opportunity for investors seeking a stable, income-producing asset. Ideally locat ed just minutes from East Tennessee State University (ETSU), Johnson City Medical Center, and the VA Hospital, this property benefits from steady rental demand. Tenants also enjoy convenient access to grocery stores, everyday essentials, and downtown Johnson City dining and entertainment. Highlights: 8 total units (2BR / 1.5BA townhome-style) 7 occupied, 1 vacant for showings Updates in many units: flooring, PEX plumbing, appliances Desirable layout with half bath on main level Strong rental location near major employers and amenities Consistent occupancy with investment upside Whether you're expanding your portfolio or entering the multifamily space, this property offers a balanced combination of stability, location, and long-term potential. Some of the information in this listing may have been obtained from a 3rd party and/or tax records and must be verified before assuming accuracy. Buyer(s) must verify all information.

Property Details

Property Type : Residential Income

Price : $1,219,000

AD Id : 77809553

MLS Id : 9994608

Year Built : 1978

County : Washington

Subdivision: Rhawnhurst

Map

What's Nearby

Nearby Areas

Features

Roofing Information

Composition
Interior Features

Roof: Composition Appliances: Dishwasher, Range, Refrigerator
Heating & Cooling

Has Heating: Yes Heating: Heat Pump Has Cooling: Yes Cooling: Heat Pump

Building Information

Year Built: 1978 Building Area Total: 3144 Construction Materials: Wood Siding Private Pool: No
Exterior Features

Exterior Features: Balcony

Lot Information

Lot Dimensions: 158.14 X 249.34 IRR

Property Information

Subdivision: Not In Subdivision Source Property Type: Residential Income Property SubType: Multi Family Levels: Two Property Age: 48

Listing Price Information

Listing Price: $1219000

Tax Information

Parcel Number: 062a A 015.03

Parking Information

Asphalt

Homeowners Association Information
Association Amenities: Landscaping

School Information

Elementary School: Cherokee

Junior High School: Liberty Bell

Senior High School: Science Hill
Location Information

Direction: From parkway, turn on Greenwood Dr, turn left on Colony, complex is towards the back on the left WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft
1412 Knob Creek Road, Johnson City, TN, 37604	$1,600,000	--	--	--
216 Mckinley Church Road, Johnson City, TN, 37604	$399,900	--	--	--
3411 Walnut Street, Johnson City, TN, 37604	$674,999	--	--	--
3536/3538 Walnut Street, Johnson City, TN, 37604	$449,000	--	--	--

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The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the Tennessee Virginia Regional MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than ByOwner, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2026 Tennessee Virginia Regional MLS. All Rights Reserved.

ByOwner last updated this listing 06/18/2026 @ 07:38

MLS: 9994608 LISTED BY: Toni Drumwright, Greater Impact Realty Jonesborough 423-973-8634 SOURCE: TennesseeVirginia Regional MLS