UTC Student Housing Package

Multi-Family for Sale
Catylist Listing ID: 30132803
Property Subtypes: Duplex/Fourplex, Student Housing
Number of Units: 10 Units
Building Size (RSF): 18,000 SF
Gross Building Area: See Agent
Sale Price: $1,800,000
Unit Price: $180,000 Per Unit
Property Use Type: Investment
Building Name: UTC Student Housing Package
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/7/2017

Overview / Comments

UTC student housing package.
777 E MLK - 5 unit brick apartment unit
808/810 Park Ave - Duplex 1 bed/1bath
812 Park Ave - House 2 bed / 1 bath
812 E 10th St. - House 4 bed / 2 bath
911 Magnolia St. House 4 bed / 2 bath
1040 Flynn St. - House 2 bed / 1 bath
1042 Flynn St. - Vacant house getting remodeled
1044 Flynn St. - Vacant house undergoing renovation 3 bed / 2 bath
953 E 5th St. - All Brick duplex, 2 bed / 1 bath each
1133 Garfield St. - House 2 bed/ 1 bath
All Central HVAC, some updated, 2 under renovation.

One of the hottest areas for growth in Chattanooga with 2,000 rental units under construction as well as 1,300 beds for UTC students. 40,000 people drive through the MLK area on a daily basis, commuting to and from the downtown area.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: See attachment
Property Located Between: Around UTC Campus
Airports: Chattanooga Metropolitan Airport
Site Description: University area for excellent student housing. All in 37403.
Area Description: The UTC / MLK area has transformed over the past two years. Many older students prefer to rent individual properties rather than the large apartment complex style of student housing. MLK is home to several new craft beer breweries, restaurants. coffee shops and retail. Walk/bike locations.
Total Number of Buildings: 10
Property Condition: Average
Parking Description: See attachments for more detail.
Legal Description: Attached.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,524 64,886 137,925
Median Age: 27.87 34.43 36.77
Households: 3,289 26,160 57,466

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