Rare Investment Opportunity

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30726938
Property Subtypes: Low-Rise/Garden, Mixed Use
Status: Pending/Contingent
Number of Units: 31 Units
Building Size (RSF): 19,466 SF
Gross Building Area: See Agent
Gross Land Area: 6.50 Acres
Sale Price: $2,700,000
Unit Price: $87,096.77 Per Unit
Ceiling: 8 ft.
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 12.45%
Average Occupancy Rate: 100
Last Updated: 6/29/2021

Overview / Comments

2 perfectly located hospitality properties. 2531 has 18 doors, laundry room, maintenance and Office. 2501 is newly updated with 15 doors, possible laundry room and office. Fully booked, month's in advance.

2501 Cummings generates an average of $20,000.00 NOI Per Month
2531 Cummings generates an average of $10,000.00 NOI Per Month

For further financial information please contact Listing agent

Attachments & Media

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 033154E C 00200
Zoning: COMMERCIAL
Property Located Between: On Cummings Hwy
Highway Access: Yes
Airports: Chattanooga
Site Description: On Cummings Hwy, (going north) both destinations will be on the right.
Area Description: Beautifully Lookout area directly off of Cummings HWY Minutes from Ruby Falls and various tourist destinations
Total Number of Buildings: 12
Number of Stories: 1
Exterior Description: 2501 Newly Updated | 15 Doors 2531 Stone, Red roof and Vinyl siding | 16 Doors
Parking Type: Surface
Parking Description: Ample
Total Parking Spaces: 40
Laundry: Shared
Heat Type: Electricity
Heat Source: Wall Units
Air Conditioning: Window Unit
Interior Description: 2501 Newly Updated 2531 Wood
Zoning Description: Hospitality
Lot Frontage: 2501: 350FT 2531: 400FT
Legal Description: 2531: 154E C 004 2501: 154E C 002

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 26,811 79,905
Median Age: 35.39 35.97
Households: 10,751 32,038

Contact

Photograph of Listing Agent

Ashley Missel

KW Commercial Greater Chattanooga REALTORS® Member
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