Town Creek Apartments

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30449568
Property Subtypes: Low-Rise/Garden
Status: Pending
Number of Units: 24 Units
Building Size (RSF): 22,652 SF
Gross Land Area: 2.77 SF
Sale Price: $799,000
Unit Price: $33,291.67 Per Unit
Property Use Type: Investment
Building Name: Town Creek Apartments
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/20/2019

Overview / Comments

ATTENTION INVESTORS - RARE OPPORTUNITY - 24 unit apartment complex located in Jasper Tennessee (formerly government subsidized - will transfer WITHOUT the rent restrictions) 4 - 1BR 1BA 741 sq ft units, 16 - 2BR 1BA 965 sq ft units, 4 - 3BR 1BA 1062 sq ft units. 4 apartment buildings, On site management office, playground, basketball court, laundry facility and 50+ paved parking spots. Current rents are at restricted rated and new owner will have opportunity for higher cap rates due to lifted restrictions at sale.

Additional Details

Nearest MSA: Chattanooga
County: Marion
Tax ID/APN: 058108 01102
Zoning: R-2
Community Amenities: Play Ground
Total Number of Buildings: 5
Property Condition: Average
Number of Stories: 2
Year Built: 1983
Roof Type: Gable
Construction/Siding: Brick/Vinyl Siding
Parking Type: Surface
Total Parking Spaces: 50
Laundry: Shared
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,057 4,028 9,611
Median Age: 47.36 43.97 42.9
Households: 456 1,709 3,884


Photograph of Listing Agent

Pamela D Brown

Century 21 Professional Group Greater Chattanooga REALTORS® Member
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