Great Quadruplex Investment in Red Bank
|Catylist Listing ID:
|Number of Units:
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||$48,750 Per Unit
|Property Use Type:
||Cash to Seller
Overview / Comments
This multi-family investment features a 3,248 sq. ft. quadruplex made up of 2 bed/2 bath units located in a bedroom community of Chattanooga. Building is in overall good condition and consists of a layout with 2 units on the first floor and 2 units on the second floor - all of which are identical 812 sq. ft. apartments with hardwood flooring throughout. Seller's recent improvements include installing a new metal roof in 2016 and also new PTAC window units (heat + air) to each space. Each unit currently rents for $500/month with great potential for increased income as the community evolves. Current owner is in the process of acquiring a new tenant for a recently vacated apartment - that once rented will put the quadruplex back again at full occupancy.
As it becomes increasingly difficult to find available, affordable property in the popular North Chattanooga area, potential residents look elsewhere for an area that can provide the same amenities and conveniences. Red Bank is positioned for success as it is the next desirable residential destination north of Chattanooga and is currently experiencing a renaissance. The current mayor of Red Bank recently updated zoning ordinances and also defined a central business district for the community. The quadruplex is located within this district area and will greatly benefit as this commercial corridor transforms into a walk-able shopping area with locally owned, trendy retail shops and restaurants.
Attachments & Media
||109I D 014
|Property Located Between:
||Dayton Boulevard and US-27
||0.9 mile to access US-27 via Morrison Springs Rd., leading to downtown Chattanooga and I-59 and I-24 interchanges
||Chattanooga Metropolitan Airport (CHA) - 10.9 miles
||0.36 acre, level site; convenient to major traffic corridors
||Property located just off Dayton Blvd. - the main commercial corridor of Red Bank. Meadowbrook Drive is occupied by other multi-family properties and surrounded by single-family homes. The area is well connected and offers less than 1 mile access to US-27, leading to downtown within minutes. The Red Bank community is a 6 1/2 sq. mile municipality nestled between 2 ridges and surrounded by the city of Chattanooga. The community features low crime rates, charming homes and a small town feel while remaining less than 10 minutes from the busy North Shore and downtown. Red Bank is currently experiencing a beautification process that is aimed at reinvigorating its commercial center.
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||Lot 9 Whispering Pines Pb 17 Pg 91
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