Investment Apartment Opportunity

Multi-Family for Sale
Catylist Listing ID: 30354506
Property Subtypes: Low-Rise/Garden, Mixed Use
Number of Units: 13 Units
Building Size (RSF): 13,396 SF
Gross Building Area: 88,944,502 SF
Sale Price: $500,000
Unit Price: $38,461.54 Per Unit
Property Use Type: Investment
Building Name: The views
Usable Size (USF): 13,396 SF
Sale Terms: Cash to Seller
Cap Rate: 10.0%
Average Occupancy Rate: 50
Last Updated: 8/13/2019

Overview / Comments

This is a great opportunity for someone as the bottom floor of this entire complex is vacant. With a little work one could lease up as its current use which is retail. There is a section built out for a salon , the rest are set up for offices. However with a little creativity this could be apartments as well. The top floor of the building is fully leased with residential mix of tenants. Great money making opportunity as the income could be doubled.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Chattanooga / Hamilton
Tax ID/APN: Se 1/4 Sec 20 Twp 5 R-3 3173 09 08
Zoning: C-5 - R-2
Percent Occupied: 50%
Community Amenities: On-Site Maintenance
Property Located Between: Central
Highway Access: Within a few miles of HWY 153 located on HWY 58
Airports: Chattanooga Airport is only 7 miles or so from this location
Site Description: Large parking area, with retail front facing Hwy 58 and residential units face the slower street behind.
Area Description: Great location , close to shopping, close to downtown Chattanooga and local schools. Great for apartment and retail mixed use.
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1980
Year Renovated: 2017
Roof Type: Arched
Construction/Siding: Brick
Exterior Description: RETAIL Front with windows on the hwy side. Brick , covered porch residential on the retail side.
Parking Type: Surface
Parking Description: Plenty of paved parking.
Total Parking Spaces: 30
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Package Unit
Internet Access: Cable, DSL, Gigabit
Interior Description: Each unit in the Residential section are 1 bedroom units with nice upgrading flooring , appliances and nice open floor plan. The Commercial units are all different some have offices, some have open retail look, all different in the commercial areas. They do all have bathrooms in the commercial area some of which have showers, mop sinks etc.
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Land Ownership: Property owner owns land
Legal Description: Se 1/4 sec 20 Twp 5 R-3 3173 09 08

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,965 28,794 108,369
Median Age: 36.34 42.22 40.42
Households: 1,321 12,421 44,093


Photograph of Listing Agent

Jonathan Campbell

Keller Williams Realty Greater Chattanooga REALTORS® Member
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