1201 North N & 1201 1/2 Street

This Johnson City, TN property presents a compelling opportunity for investors with two homes for the price of one with room to grow. This property is zoned R-3, which allows for medium to high density residential use, creating multiple strategies including single family rental, duplex or multifamily conversion (where applicable), or future redevelopment. For investors focused on increasing cash flow per parcel or scaling doors, R-3 zoning provides a significant advantage that other residential zoning. The property is serviced by public sewer and city water, a major benefit for development potential. The existing improvements include an almost fully finished 4 bedroom, 1 bath home with key updates already in place, including new flooring, bead board paneling, and newer windows. The biggest ticket items have been completed, allowing an investor to quickly bring the home to rent ready. Or someone could live in one and finish the other building and have a rental. In addition, a second structure on the property offers strong value add potential. With some work, this building could be finished into a separate living space, ideal for creating an additional rental unit, guest house, or supplemental income stream. Whether you're looking for a light rehab with immediate rental upside, a multi-unit conversion, or a longer term redevelopment play to fully capitalize on the zoning, this property offers several clear paths to profitability. Property is being sold as-is. All information is deemed reliable but not guaranteed. Buyer / Buyer's agent to verify all information.