The Ridge Apartments - 40 Units in East Ridge

Multi-Family for Sale
Catylist Listing ID: 30293112
Property Subtypes: Low-Rise/Garden
Number of Units: 40 Units
Building Size (RSF): 52,333 SF
Gross Building Area: See Agent
Sale Price: $2,799,000
Unit Price: $69,975 Per Unit
Property Use Type: Investment
Building Name: The Ridge
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 12/7/2018

Overview / Comments

Recently renovated gem in East Ridge​!​ ​The Ridge Apartments is a well-maintained 40​-unit apartment building located just off of ​S Seminole​ ​with​ quick access to Hamilton Place, downtown Chattanooga, and East Ridge. Currently ​90% occupied​ with​ a ​GMI​ of $27,496. Three​ ​of the ​units​ feature​ ​1​ bedroom​,​ 1 bathroom​ with 660 sqft​; twenty-three​ units have ​2 bedrooms, 1 bathroom​ with 750-924 sqft​; the remaining fourteen units have 3 bedroom, 2 bathrooms with 1,270 sqft.​ There also is a 41st unit that would make a perfect manager's office. Plenty of on site storage. ​Don't ​miss out on this incredible opportunity! Call today for more information​.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 033168C E 02800P000
Percent Occupied: 92%
Total Number of Buildings: 2
Property Condition: Excellent
Number of Stories: 3
Year Renovated: 2017
Laundry: In Each Unit
Heat Source: Central
Air Conditioning: Package Unit

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,017 83,134 144,158
Median Age: 35.41 36.27 36.88
Households: 4,906 33,229 59,183


Photograph of Listing Agent

Ben Van Gaasbeek

RealSmart Greater Chattanooga REALTORS® Member
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