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: $3,900,000
Unit Price: $130,000 Per Unit
Property Use Type: Investment
Building Name: Brainerd Hills
Sale Terms: Cash to Seller
Average Occupancy Rate: 100
Last Updated: 4/14/2021

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.

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

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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

Contact

Photograph of Listing Agent

Virginia F Brockman

KW Commercial Greater Chattanooga REALTORS® Member
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