The Palms at Concord Luxury Townhome Apartments-14 Units

Sold Multi-Family
Catylist Listing ID: 30145054
Property Subtypes: Mid-Rise
Property Type: Multi-Family
Archived As: Sold

Overview / Comments

These 14 units may be the nicest townhome apartments in Chattanooga. Take a look at the pictures. There are 8 2-bedroom and 2.5 bath units that measure 1,750 SF and 6 3-bedroom and 2.5 bath units that measure 1,950 SF. They are located just off of Exit 3, East Brainerd Road in the Hamilton Place submarket.

The wrought iron street lights, craftsman style architecture and private, gated entrance distinguish this community from ALL others!!! These 2 and 3 bedroom designs feature spacious kitchens, dining and living areas, fireplace, extremely well appointed master suites, specious guest bedrooms, laundry areas and attached garages. Every home features luscious hardwood flooring downstairs, granite counter tops in the kitchen and bathrooms, gas log fireplace, upgraded light fixtures, heavy crown molding and specialty ceilings in the master suite.The exterior and interior level of finish is exceptional. They have gas starter fireplaces, large bedrooms with walk-in closets, marble countertops, jetted tubs, walk-in showers and real wood cabinets to name a few of the exceptional details. The purchaser might consider a condominium conversion.

The kitchen has handpicked and hand crafted granite counter tops, stainless appliances, and an abundance of beautifully customized cabinetry designed with a lot of counter space for people who like to cook and entertain at the same time!! Attention to detail is evident as you enter the hardwood foyer equipped with a convenient coat closet. As you enter the great room you will find a cozy gas log fireplace with an intricate mantel and a solid space above for a wonderful flat screen TV. The kitchen is adorned with custom solid wood cabinetry.

The master bedroom is both spacious and refined with a double tray ceiling, recessed lighting, huge walk-in closet, master bath with garden (jetted) tub, walk in shower and beautiful custom cabinetry with granite counter tops and tile floors. Additional bedroom(s) with walk-in closet is spacious and located close by is a full bathroom with tile floor and shower/tub combo. Each unit is covered with Hardie Board concrete siding with a privacy rear panel on the patio between units.

Currently, there is one vacant unit which has been pre-leased for July 28,2017. The security deposit has been collected also. Many of the tenants have been long term tenants. Eight of the tenants have been residents for more than 2 years.

The following reports are available upon request: trailing 12-months, survey and pro forma P&L.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: 158F B 001 C085
Percent Occupied: 93%
Property Located Between: East Brainerd Rd and Concord Rd
Highway Access: Property is located just off of Exit 3, East Brainerd Road.
Airports: Chattanooga Metropolitan
Site Description: Site is level and at street grade. Property is gated and fenced.
Area Description: The East Brainerd Road and Gunbarrel Rd corridors are the retail center for Hamilton County. Fifty percent (50%) of all housing starts in this area. Nearly all of the Class A apartment communities in Hamilton County have been built in this submarket.
Total Number of Buildings: 7
Property Condition: Excellent
Number of Stories: 2
Year Built: 2011
Roof Type: Other
Construction/Siding: HardiePlank Siding, Stone
Exterior Description: Stone and Hardie Board
Parking Ratio: 2 (per 1000 SF)
Parking Type: Structure
Total Parking Spaces: 28
Laundry: In Each Unit
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Fuel: Gas
Air Conditioning: Engineered System
Interior Description: There are 8 2-bedroom 2.5 bath units at 1,750 SF and 6 3-bedroom 2.5 bath at 1,950 SF.
Zoning Description: R3
Part of Planned Development?: Yes
Lot Frontage: 270
Lot Depth: 500
Water Service: Municipal
Sewer Type: Municipal
Easements: Pipelines, Electric Lines, Ingress/Egress, Utilities
Land Ownership: Owned

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,835 51,304 135,808
Median Age: 38.3 39.88 39.33
Households: 3,221 22,343 56,318


Photograph of Listing Agent

Robert Fisher

KW Commercial GCAR CMLS Member
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