Downtown Apartment Building for Sale

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30531991
Property Subtypes: Mid-Rise, Student Housing, Other
Status: Pending/Contingent
Number of Units: 15 Units
Building Size (RSF): 16,200 SF
Sale Price: $2,950,000
Unit Price: $196,666.67 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: The Ayrshire
Sale Terms: Cash to Seller
Last Updated: 3/24/2020

Overview / Comments

This fifteen (15) unit apartment building is centrally located in downtown Chattanooga and within walking distance of UTC and many other downtown attractions. The building maintains a high occupancy rate year-round and units are remodeled as they turnover. The roof has been replaced within the last five years.

The Ayrshire is an amazing investment opportunity to own a quality apartment building located within a Qualified Opportunity Zone in the Chattanooga downtown area.

The apartment building is part of a larger portfolio that can be purchased individually or collectively.

Contact agent to schedule an appointment. Due Diligence package available upon request and execution of an NDA.

Attachments & Media

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 033145D M 01100
Zoning: U-CX-6
Percent Occupied: 93%
Property Located Between: McCallie Avenue and MLK.
Site Description: The Ayrshire is conveniently ocated along McCallie Ave allowing residents walkability to UTC and other downtown attractions.
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 3
Year Built: 1920
Roof Type: Flat
Parking Type: Surface
Parking Description: Shared resident parking in the rear.
Laundry: Shared
Zoning Description: The Commercial Mixed Use (U-CX) zone is intended to accommodate a variety of residential, retail, service and commercial building forms and uses. U-CX-6 allows for a maximum of 6 stories.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,238 50,724 128,932
Median Age: 31.89 33.22 36.65
Households: 4,172 20,390 53,551

Contact

Photograph of Listing Agent

Frazier DeVaney

NAI Charter Real Estate Corp. Greater Chattanooga REALTORS® Member
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