18 W Meadowbrook Dr

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30263995
Property Subtypes: Duplex/Fourplex
Status: Pending/Contingent
Number of Units: 4 Units
Building Size (RSF): 3,248 SF
Gross Building Area: See Agent
Gross Land Area: 16,500 - 17,000 SF
Sale Price: $215,000
Unit Price: $53,750 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 4/23/2018

Overview / Comments

This multi-family investment features a 3,248 sq. ft. quadruplex made up of 2 bed/2 bath units located in a bedroom community of Chattanooga. Building is in overall good condition and consists of a layout with 2 units on the first floor and 2 units on the second floor - all of which are identical 812 sq. ft. apartments with hardwood flooring throughout. Units have a lot of small touches that give them a lot of character. Recent improvements include a metal roof in installed in 2016 and also new PTAC window units (heat + air) to each space installed around the same time.

As it becomes increasingly difficult to find available, affordable property in the popular North Chattanooga area, potential residents look elsewhere for an area that can provide the same amenities and conveniences. Red Bank is positioned for success as it is the next desirable residential destination north of Chattanooga and is currently experiencing a renaissance. The current mayor of Red Bank recently updated zoning ordinances and also defined a central business district for the community. The quadruplex is located within this district area and will greatly benefit as this commercial corridor transforms into a walk-able shopping area with locally owned, trendy retail shops and restaurants.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 109I D 014
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Laundry: In Each Unit

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,857 43,514 92,447
Median Age: 39.72 39.43 40.24
Households: 3,509 19,362 39,931


Photograph of Listing Agent

Ben Van Gaasbeek

RealSmart GCR CMLS Member
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