Single Rental House For Sale - 5 Bedrooms

Multi-Family for Sale
Catylist Listing ID: 30315143
Number of Units: 1 Units
Building Size (RSF): 2,132 SF
Gross Land Area: 0.40 Acres
Sale Price: $152,000
Unit Price: $152,000 Per Unit
Property Use Type: Investment, Vacant/Owner-User
Building Name: Rental House
Usable Size (USF): 2,132 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 11/16/2018

Overview / Comments

Great rental house with 5 bedrooms. Current tenants are Lee College students. Current rent is $1,400 per month which works out to $280/bedroom which is low for the market. Market rents are a good bit higher than that. The current lease goes to May 31, 2019.

The property is in good shape except for needing a exterior painting. The roof was replaced in 2012 and is in good shape. Also within the last few years, the sellers have upgraded the flooring and countertops in the kitchen.

The lot is large at 91 feet wide by 214 feet deep. Many of the nearby lots have been converted to commercial lots with office buildings built on them. This could be done on this lot too. The zoning would not need to be changed for an office development.

Available Reports:
2017 & 2018 YTD P&L

Additional Details

Nearest MSA: Cleveland
County: Bradley
Taxing Authority: Bradley County
Tax ID/APN: 042G B 002.00
Zoning: PI-PROFESSIONAL INSTITUTIONAL
Property Located Between: N. Ocoee St & Keith St
Highway Access: The property is located just off of Keith St ( Hwy 11) and N Ocoee St.
Airports: Cleveland Airport
Site Description: The site is level and at street grade. The lot is rectangular.
Area Description: The north end of Cleveland near the subject property is growing at the highest rate in Bradley County. There are new subdivisions, retail, apartments and townhome developments.
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1930
Roof Type: Arched
Construction/Siding: Wood Frame
Exterior Description: Painted white. Has a screened in front side porch.
Parking Type: Surface
Parking Description: There is parking in front along oval driveway and to the side and back. In the back is a concrete parking area.
Total Parking Spaces: 10
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Zoning Description: Residential
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,696 40,711 60,772
Median Age: 39.37 37.04 37.14
Households: 1,123 15,672 23,440

Contact

Photograph of Listing Agent

Robert Fisher

KW Commercial Greater Chattanooga REALTORS® Member
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