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
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.
More Information MLS# 1292776
Location, Tax & Legal Info
Area: Washington County
City/County Code: City Limits
Total Tax: 19625.76
Contract Info
Auction Y/N: No
Listing Price: 3060000
Current Price: $2,800,000
Status: Closed
Listing Date: 2025-03-10
General Property Description
Lot Dimensions: n/a
# Units Leased: 35
Utilities/Mo Avg: 2200.44
Property Status: N/A
Driveway: Paved
SqFt - Total (Aprox): 35076
Number of Units: 36
Year Built: 2006
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.
Property Sub-Type
Apartment: 1
Construction
Frame - Brick: 1
Type of Units
1 Bedroom Unit: 1
2 Bedroom Unit: 1
3 or more Bdrm Units: 1
Sale Includes
Building and Land: 1
Cooling
Central Cooling: 1
Floors
Carpet: 1
Tile: 1
Garage/Parking
On Premise Parking: 1
Fuel
Other Fuel: 1
Heat
Central: 1
Other Rooms
Other: 1
Roof
Shingle: 1
New Financing
Cash: 1
Conventional: 1
New Loan: 1
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
Geo Lat: 36.321877
Geo Lon: -82.328186
Status Change Info
Status Change Date: 2025-07-08
Under Contract Date: 2025-05-16
Sold Date: 2025-07-07
Sold Price: $2,800,000
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
Office Phone: 865-936-9999
Last Updated: July - 08 - 2025
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