16 Unit Rental Portfolio

Multi-Family for Sale
Catylist Listing ID: 30264469
Number of Units: 16 Units
Building Size (RSF): 19,200 SF
Gross Building Area: See Agent
Sale Price: $950,000
Unit Price: $59,375 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 8/1/2018

Overview / Comments

16 house portfolio. 14 are close to each other in Brainerd. Two others are closer to downtown.

727 McGowan Rd
735 McGowan Rd
714 Sylvan Dr
716 Sylvan Dr
721 Sylvan Dr
722 Sylvan Dr
730 & 732Sylvan Dr
736 Sylvan Dr
810 & 812 Sylvan Dr
832 Sylvan Dr
716 East Ave
725 Talley Rd
737 Sylvan Dr (Lot)
4507 14th Ave
2809 E 45th St

Rents are generally around $775 each, but do vary. Expenses on this portfolio are low. Nearly all units have been fully updated in past 1-4 years.

Sellers may be willing to consider selling some separately.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $9,384 (Annual)
Potential Rental Income $148,800 (Annual)
Net Operating Income $96,720 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 033147J R 01800P000
Percent Occupied: 90%
Total Number of Buildings: 16
Property Condition: Good
Number of Stories: 2
Laundry: In Each Unit
Heat Type: Electricity
Heat Source: Wall Units
Fuel: Electric
Air Conditioning: Other
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,312 70,954 164,006
Median Age: 39.66 36.77 37.04
Households: 4,333 29,545 69,031

Contact

Photograph of Listing Agent

Ben Van Gaasbeek

RealSmart Greater Chattanooga REALTORS® Member
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