Multi-Family Units in Red Bank

Multi-Family for Sale
Catylist Listing ID: 30748740
Number of Units: 3 Units
Building Size (RSF): 1,632 SF
Gross Building Area: See Agent
Gross Land Area: 0.17 Acres
Sale Price: $400,000
Unit Price: $133,333.33 Per Unit
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/16/2021

Overview / Comments

Multi-family package includes a one bedroom/one bath house and a two story apartment building with 2-one bedroom/one bath apartments. All units have been updated to include granite counter tops, new fixtures, flooring, fresh paint and tile back splash. The property has a large green space. The owner has one space leased for $650.00 per monthly and has left the other two units vacant for the new owner. All three units share one water meter. The house and two apartments are on separate electric meters. The market rent for a one bedroom/one bath apartment in Red Bank is between $800 - $900 per month. These three units have a combined potential income of $2,700 monthly. Great opportunity for an owner to occupy one unit and have rental income from the other two units.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 033118A G 04000
Percent Occupied: 33%
Property Located Between: Dayton Blvd and Redding Road
Highway Access: Less than one mile from Hwy 27
Airports: Chattanooga Airport
Site Description: These three units sit back from the street and have green space in the rear. They do not have washer dryer hook-ups, but there is a laundry mat next door.
Area Description: The apartments are located in the desirable neighborhood of Red Bank just minutes to Chattanooga downtown.
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 2
Year Built: 1932
Year Renovated: 2019
Construction/Siding: Block
Exterior Description: Stone and Stucco over block exterior
Parking Type: Surface
Total Parking Spaces: 8
Laundry: Laundromat Nearby
Air Conditioning: Package Unit, Window Unit
Lot Frontage: 51
Lot Depth: 149
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,711 47,099 97,734
Median Age: 38.37 38.55 39.21
Households: 3,480 20,910 42,272


Photograph of Listing Agent

Joe M Pleva

KW Commercial Greater Chattanooga REALTORS® Member
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