Bonny Oaks 6 Unit and 12 Unit Apartments

Multi-Family for Sale
Catylist Listing ID: 30250560
Property Subtypes: Mid-Rise
Number of Units: 18 Units
Building Size (RSF): 12,708 SF
Gross Land Area: 1.46 Acres
Sale Price: $1,350,000
Unit Price: $75,000 Per Unit
Property Use Type: Business
Usable Size (USF): 12,708 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 9/29/2018

Overview / Comments

100% Occupied 6 & 12 Unit apartments off Bonny Oaks Drive. Section 8 housing. Well maintained apartments in good condition with high demand. Easy access to Hwy 153 & I-75 with 23000 vehicles per day at nearby Hwy 153 & 17,000 vpd to I-75.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Chattanooga
Tax ID/APN: 129M A 004 & 129M A 005
Zoning: R-3
Percent Occupied: 100%
Property Located Between: Bonny Oaks & N. Bishop Drive
Highway Access: Bonny Oaks to Hwy 153 or I-75 N or S.
Airports: Chattanooga
Site Description: 12 Unit and 6 Unit Apartments (mixed 1 & 2 bedroom units). Section 8, 100% occupied with waiting list. Average condition with easy access to Hwy 153 & I-75 and nearby Volkswagon Automotive Manufacturing Plant.
Area Description: Site located off Bonny Oaks, high traffic counts (17,000 & 23,000 vehicles per day). Easy access to Highway 153 & I-75 North and South. Located adjacent to single family residential area. Zoned R-3.
Total Number of Buildings: 2
Property Condition: Average
Number of Stories: 2
Year Built: 1979
Year Renovated: 1979
Roof Type: Arched
Construction/Siding: Brick
Exterior Description: Two Brick 2-Story Buildings (12 Unit & 6 Unit buildings) located off Bonny Oaks Drive.
Parking Type: Surface
Parking Description: Front & Back of buildings parking
Total Parking Spaces: 25
Sprinklers: None
Heat Type: Electricity
Heat Source: Central, Wall Units
Fuel: Electric
Air Conditioning: Window Unit
Internet Access: Gigabit
Interior Description: 2 & 3 Bedroom Units
Zoning Description: R-3
Lot Frontage: 600 feet
Lot Depth: 146 feet
Water Service: Municipal
Sewer Type: Municipal
Easements: Pipelines, Utilities
Legal Description: Lt 133 Austin Farms Sec No 3 Pb16 P G58 Bishop Dr Apts 12 Of 18 Total U Nits & Lot 132 Austin Farms Sec No 3 Pb15 Pg58 Bishop Dr Apts 6 Of 18 Total U Nits

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,998 33,994 113,217
Median Age: 43.55 40.53 40.02
Households: 1,708 14,796 47,118


Photograph of Listing Agent

Tad Bromfield

Sentinel Commercial Properties Greater Chattanooga REALTORS® Member
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