Catylist ID: #30612942
7 Units Multi-Family in East Ridge | Quad, Duplex & SF Home
Multi-Family for Sale
|Catylist Listing ID:||30612942|
|Property Subtypes:||Duplex/Fourplex, Other|
|Number of Units:||7 Units|
|Building Size (RSF):||7,824 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||1.50 Acres|
|Unit Price:||$92,142.86 Per Unit|
|Property Use Type:||Investment|
|Sale Terms:||Cash to Seller, Other|
Overview / Comments
Incredible investment opportunity located just minutes from downtown Chattanooga! These 7 units are comprised of a mid-century modern duplex, a quadruplex, and an A-frame single family home that if desired, could easily be modified into a duplex. All buildings feature new roofs, wiring, and plumbing, and 6 of the 7 units included updated kitchens and bathrooms; the 7th unit has not been renovated due to long-term occupancy.
Current GMI of $5,900 and 100% occupied. Located in an easily rentable area, the properties are close to interstate access and just minutes from the shopping, dining, entertainment, and major businesses/employers in downtown Chattanooga. Proximity & visibility from the interstate (I-24) also make the unused land/yard an excellent location for a billboard.
This setup is ideal for savvy investors or retirees who want tenant cash flow to pay their mortgage. The single-family A-frame could be used as a personal home (instead of a rental) while the 6 remaining units (which are in no need of rehab work) bring in positive cash flow.
Acceptable Letter of Intent is required to view properties.
Attachments & Media
|Tax ID/APN:||156E D 036|
|Total Number of Buildings:||3|
|Number of Stories:||15|
|Laundry:||In Each Unit|
|Legal Description:||Lot 1 Ronald Johnson Sub Pb 55 Pg 3 52|
|Proximity:||1 mile||3 miles||5 miles|
Grace FrankReal Estate Partners Chatt LLC Greater Chattanooga REALTORS® Member
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