Catylist ID:
#30720644
Brainerd Hills Apartments, Offices and Retail Space
Multi-Family
for Sale
| Catylist Listing ID: | 30720644 |
| Property Subtypes: | Mixed Use |
| Number of Units: | 30 Units |
| Building Size (RSF): | 21,744 SF |
| Gross Building Area: | See Agent |
| Sale Price: | $3,450,000 |
| Unit Price: | $115,000 Per Unit |
| Property Use Type: | Investment |
| Building Name: | Brainerd Hills |
| Sale Terms: | Cash to Seller |
| Average Occupancy Rate: | 100 |
| Last Updated: | 7/21/2021 |
Overview / Comments
|
The Brainerd Hills complex is a Chattanooga mixed-use gem! The asset consists of 16-2 bedroom units, 4-1 bedroom units and 10 retail/office units. This asset provides excellent upside potential through continued gradual raising of rents to market rate. Additionally, this asset is free of major and minor deferred maintenance items, allowing an investor to further focus on increasing the property’s NOI. The residential units in this community feature in-unit amenities such as ample closet space, in-unit washer and dryer hook-ups, full appliance package, patio/balconies and more. The property’s competitive amenity package also provides water to the residential tenants. The great location and excellent management has continued to attract new residents and there is currently a waiting list. Furthermore, given the competitive unit finishes and amenity package, an investor can reposition the asset and begin renting at the market rate to further increase rental income upon acquisition. Property tours are available by appointment only. |
Attachments & Media
Additional Details
| Nearest MSA: | Chattanooga |
| County: | Hamilton |
| Tax ID/APN: | 158H M 014 |
| Zoning: | C2 |
| Percent Occupied: | 100% |
| Total Number of Buildings: | 2 |
| Property Condition: | Good |
| Year Built: | 1985 |
| Roof Type: | Gable |
| Exterior Description: | Tudor Style partial brick. |
| Parking Type: | Surface |
| Laundry: | In Each Unit |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Air Conditioning: | Package Unit |
| Internet Access: | Gigabit, Fiber Optic |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Legal Description: | Ne 1/4 Sec 21 Twp 2 R-3W Brainerd H Ills Apts-28 Units |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 4,343 | 58,092 | 148,684 |
| Median Age: | 34.36 | 39.75 | 38.66 |
| Households: | 2,160 | 26,069 | 61,638 |
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