Catylist ID: #30517945
Foundry Flats // Opportunity Zone Multifamily Investment
Multi-Family for Sale
|Catylist Listing ID:||30517945|
|Building Status:||Under Construction|
|Number of Units:||44 Units|
|Building Size (RSF):||21,404 SF|
|Gross Building Area:||26,985 SF|
|Gross Land Area:||33,541 SF|
|Unit Price:||$181,818.18 Per Unit|
|In Opportunity Zone?||Yes|
|Property Use Type:||Investment|
|Building Name:||Foundry Flats|
|Sale Terms:||Cash to Seller|
Overview / Comments
Units are expected to be available for occupancy in early March 2020.
Located in the Opportunity Zone, this multifamily development offers an investor favorable tax treatment and the diversification of 44 units.
Buying the project during construction allows the buyer to have input into the final phase of construction, as well as structure for leases and other business decisions BEFORE the first tenants take occupancy.
A recent survey was conducted asking renters what they really wanted. The top three responses were (1) free parking spot, (2) washer & dryer in the unit, and (3) a dishwasher. Foundry Flats offers all three and more. We have also entered into a bulk internet deal with EPB and every unit will have a dedicated 300 MBPS internet service built into their lease.
This site is conveniently located to downtown, Lookout Mtn, the Tennessee Riverwalk, and is central to the new South Broad District plan.
Additionally, we own www.foundryflats.com - the domain, logo files and marketing collateral are included in the sale.
Contact agent for more information or to schedule a site tour.
Attachments & Media
|Finance Data Year||2020|
|Potential Rental Income||$527,700 (Annual)|
|Gross Operating Income||$619,000 (Annual)|
|Net Operating Income||$425,250 (Annual)|
|Actual or Proforma Year||Proforma|
|Tax ID/APN:||033145N F 00200|
|Property Located Between:||25th and 26th Streets - off Broad Street|
|Total Number of Buildings:||2|
|Number of Stories:||3|
|Laundry:||In Each Unit|
|Proximity:||1 mile||3 miles||5 miles|
J. Matthew McGauleyFidelity Trust Company Greater Chattanooga REALTORS® Member
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