Living Estate AUCTION
Great JC Location!

Saturday, Sept. 28 @ 11 a.m.

Living Estate 
A U C T I O N
Saturday, September 28th @ 11:00 a.m.

The Power Of Attorney  for the Living Estate of Nora Francis has ordered this property to be sold at auction to provide funds for the continuing care of Mrs. Francis.

412 E. Watauga Ave. Johnson City, TN 37601

LOCATION! LOCATION! LOCATION! 
This property is located on highly desirable East Watauga Ave.,
also known as Rt. 400. It has a high traffic flow (5,000+ vehicles per day) and provides quick access to and from I-26.

Zoned RO-1, High Density Residential – Professional Office District

RO-1 zoning provides for a large variety of uses.
Note: A Copy of the Zoning Code is available for viewing/printing in the “Documents” section of this AD.
Please check with the Johnson City Zoning Dept. to confirm that your desired use is permitted.

As an example of great uses for the property, this property is ideal for the professional who wants to locate their office on E Watauga and have the benefit of rental income from the 3 rental units on the upper level.

The subject structure  is currently configured for 4-5 rental units, and could easily be reconfigured to meet a new owner’s desired alternate use.

The 3 upper level units consist of 2 one-BR units and an efficiency.
The main level can be rented as 2 one-BR units or one unit, if desired.
The 3 second floor units have been vacated in the process of readying the property to be sold. 
Note: The first floor is currently occupied by a family member. Please DO NOT Disturb!

All 5 units have a full bath and kitchen or kitchenette.

Disclaimer: Information below is taken from 3rd party sources (example: tax card) and is not represented or guaranteed to be accurate by the Seller or the Auctioneer/Broker.

If dimensions are important to you, please personally measure at your inspection of the property.

Inspections can be scheduled by contacting the Auctioneer/Broker, David L Cole, by texting or calling 423-956-3151.

The structure was built in 1920.
Total square footage of finished living area: 3,258
Main level 1,847
Upper level 1,411
(Basement 1,411+/-)

Lot size: 50′ x 150′

Current tax Appraisal: $233,500
City Taxes: $1,556
County Taxes: $1,959

Metal Roof (modern, steel)
Natural Gas
Steam Heat (radiators)
A/C Window Units
Hardwood under carpet in living areas (does not include enclosed porches)

Historic features of this nearly 100 year old home include its oak staircase, millwork, and pocket and french doors. This house, as the old saying goes, “has good bones”.

On-street parking
On-premise parking (behind house, via alley)
Basement access is ground level at back of house.

Property Address

412 E. Watauga Ave.
Johnson City TN 37601

From I-26 take Exit 22 to East Watauga. 412 is on the right side of the street.

Click Here for a Map

Auction Location

From I-26, take Exit 22 to E Watauga, property will be a very short distance on the right.

412 E. Watauga Ave.
Johnson City, TN 37601

Click Here for a Map

Contact David Cole

Questions about this property? Use the information below to contact David Cole directly or click here to open a quick contact form.

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Terms and Notes

TERMS
NO Buyer's Premium. Purchaser will pay 10% of the winning bid/final sale price as deposit at the conclusion of the auction. The balance will be due in full within 30 days, or as soon as is practicable.

DUE DILIGENCE
This property is being sold “as is, where is, as inspected, day of auction”. Neither the Seller nor the Auctioneer guarantees the accuracy or credibility of pre-auction information. Prospective purchasers are required to perform due diligence prior to bidding at the auction. This means the prospective purchaser must personally seek out the information required for the prospective purchaser to determine the property suitable for purchase. If dimensions are important, measure. If zoning and use is important, contact the appropriate city or county department to inquire as to permitted uses. If any inspection is needed, please consult a professional in the related field. Come to the auction PREPARED to bid.

TITLE X
Prospective Purchasers of residential structures built prior to 1978 have a 10-day period beginning with the first appearance of auction advertising in which to inspect the subject premises for lead-based paint or lead-based paint hazards. If such inspections are not performed within the 10-day period provided for, the Purchaser will at the time of signing the purchase contract be required to agree to relinquish the right to perform any further such lead inspections or tests prior to closing the transaction, and will agree to accept the property in "as is" condition.

NOTES
NOTE: Statements, terms, and availability day of auction take precedence over pre-auction advertising, statements, or information.

NOTE: The sale of this property is NOT conditional upon the buyer receiving a loan. Therefore, you must come prepared to bid and buy on the day of the auction!