Hiwassee Street

Multi-Family for Sale
Catylist Listing ID: 30406718
Number of Units: 12 Units
Building Size (RSF): 6,000 SF
Gross Land Area: 1.01 Acres
Sale Price: $735,000
Unit Price: $61,250 Per Unit
Building Name: Hiwassee Group Apartments
Usable Size (USF): 6,000 SF
Sale Terms: Cash to Seller, Other
Cap Rate: 8.01%
Average Occupancy Rate: 92
Gross Rent Multiplier: 10
Last Updated: 4/8/2019

Overview / Comments

Protect Your ROI Easy as Pie! $9600+ Monthly Investment Potential + 0.23 Acres of Additional Commercial Building Potential! Investor's Start-Up Dream in Charleston, Driven by a Massive Industry Demand for Housing! 12 Unit Apartment Complex with 11 Units Currently Rented at $200 per Week! Conveniently Located JUST 3.9 MILES FROM I-75 on US-11 to the Industry Players that will Likely Keep Those Units Filled and Less Than One Mile to the Boat Ramp on the Sumptuous Waters of the Hiwassee River. Wacker Chemical, Olin Chemical, Amazon, Budweiser Tarver Distribution, Resolute Paper Products, and Quite a Few Others Have Laid Claim to North Bradley County as the Catalyst for Their Future Growth. The Property is Mere Minutes Away from Charleston Elementary and Walker Valley High School.

Additional Details

Nearest MSA: Cleveland
County: Bradley
Tax ID/APN: 016A E 003.00 000
Percent Occupied: 92%
Community Amenities: On-Site Maintenance
Airports: Cleveland Regional Jet port
Site Description: 1 acre commercial use, completely cleared
Area Description: 1 mile from the Hiwassee and 5 miles from 175
Total Number of Buildings: 6
Property Condition: Excellent
Number of Stories: 1
Year Built: 2015
Year Renovated: 2016
Roof Type: Gable
Construction/Siding: Vinyl Siding
Exterior Description: Vinyl siding on concrete slab metal roof
Parking Ratio: 2 (per 1000 SF)
Parking Type: Surface
Parking Description: Gravel Lot
Total Parking Spaces: 2
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Package Unit
Internet Access: Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,618 2,776 10,632
Median Age: 38.2 40.08 41.31
Households: 627 1,080 3,996


Photograph of Listing Agent

Shawn Matthews

Coldwell Banker Kinard Realty Greater Chattanooga REALTORS® Member
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