1400 Orleans St, Johnson City, TN 37601
$2,800,000
Property Type:
Multi-Family
Square Footage:
35,076
Status:
Closed
Current Price:
$2,800,000
List Date:
3/10/2025
Last Modified:
7/08/2025
Overview
Description
Located in Johnson City, TN, Orleans Terrace was built in 2006 and is comprised of 36 units. This affordable apartment community is 97% occupied and has a unit mix consisting of 1, 2, and 3 bedroom units. Community amenities include disability access, playground, and emergency maintenance. Each unit has washer / dryer hookups. Orleans Terrace is currently facing an average rental deficit of $200 per unit when compared to the maximum rent limits set by HUD.
This property is part of a 148 unit, three property LIHTC portfolio being sold in East Tennessee.
Listing Details MLS# 1292776
Location Tax Legal Info
- House #
- 1400
- Street Name
- Orleans
- St Suffix
- St
- State/Province
- TN
- Zip Code
- 37601
- PIN #
- 047I J 015.00
- Subdivision
- Orleans Terrace
Contract Info
- Auction Y/N
- No
- Listing Price
- 3060000
General Property Description
- SqFt – Total (Aprox)
- 35076
- Lot Dimensions
- n/a
- Number of Units
- 36
- # Units Leased
- 35
- Utilities/Mo Avg
- 2200.44
- Year Built
- 2006
- Property Status
- N/A
- Driveway
- Paved
Status Change Info
- Status Change Date
- 2025-07-08
- Under Contract Date
- 2025-05-16
- Sold Date
- 2025-07-07
Location, Tax & Legal Info
- Area
- Washington County
- City/County Code
- City Limits
- Total Tax
- 19625.76
Remarks & Misc
- Directions
- Turn left onto E Main St (TN-91). Go for 0.3 mi. Turn right onto Topeka St. Go for 0.2 mi. Turn right onto Orleans St. Go for 463 ft. Turn left. Go for 161 ft. Arrive at property.
- Public Remarks
- Located in Johnson City, TN, Orleans Terrace was built in 2006 and is comprised of 36 units. This affordable apartment community is 97% occupied and has a unit mix consisting of 1, 2, and 3 bedroom units. Community amenities include disability access, playground, and emergency maintenance. Each unit has washer / dryer hookups. Orleans Terrace is currently facing an average rental deficit of $200 per unit when compared to the maximum rent limits set by HUD. This property is part of a 148 unit, three property LIHTC portfolio being sold in East Tennessee.
More Information
Property Sub-Type
- Apartment
- Yes
Construction
- Frame – Brick
- Yes
Type of Units
- 1 Bedroom Unit
- Yes
- 2 Bedroom Unit
- Yes
- 3 or more Bdrm Units
- Yes
Sale Includes
- Building and Land
- Yes
Cooling
- Central Cooling
- Yes
Floors
- Carpet
- Yes
- Tile
- Yes
Garage/Parking
- On Premise Parking
- Yes
Fuel
- Other Fuel
- Yes
Heat
- Central
- Yes
Other Rooms
- Other
- Yes
Roof
- Shingle
- Yes
New Financing
- Cash
- Yes
- Conventional
- Yes
- New Loan
- Yes
Property Features
Property Sub-Type:
Apartment
Type of Units:
1 Bedroom Unit; 2 Bedroom Unit; 3 or more Bdrm Units
Sale Includes:
Building and Land
Floors:
Carpet; Tile
Fuel:
Other Fuel
Heat:
Central
Cooling:
Central Cooling
Construction:
Frame – Brick
Roof:
Shingle
Other Rooms:
Other
New Financing:
Cash; Conventional; New Loan
Listing Office:
SVN I Wood Properties
IDX
Office Phone: 865-936-9999
Last Updated: July – 08 – 2025
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