Cartersville Place

Multi-Family for Sale
Catylist Listing ID: 29993479
Property Subtypes: Mixed Use, Other
Number of Units: 5 Units
Building Size (RSF): 6,000 SF
Gross Land Area: 0.70 Acres
Sale Price: $65,000
Unit Price: $13,000 Per Unit
Property Use Type: Investment
Building Name: Cartersville Place
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/12/2018

Overview / Comments

Located at the southeast corner of Highway 75 and CR 141. Formerly known as Cartersville Place. Motivated Seller for a partially leased building. Building has all three apartment units on the top floor leased at $350 for one and two at $400, generating $1,150 per month in income. The $350 per month lease collects the rent and sends it to the owner. The top floor is individually metered for electricity and water. Heating and cooling is provided by window 18,000 btu heat pumps. The bottom floor is vacant. The north side of the bottom floor was a former three bedroom, one bath unit and could be brought back into rentable shape. The remaining terrace level space was formerly retail/restaurant, could be leased as retail or potentially be converted to residential rental. Currently, the bottom floor is on one electric and one water meter. Possible lease/option to purchase for a retail tenant on the bottom floor.

Additional Details

Nearest MSA: Scottsboro
County: Jackson
Taxing Authority: DeKalb County
Tax ID/APN: 03-04-20-0-000-050.001
Highway Access: One curb cut along the east side of Highway 75 and two curb cuts along the south side of CR 141.
Site Description: Level along Highway 75 and rising above grade with Highway 75 to the east. Generally at grade along CR 141.
Area Description: Rural area of NW Alabama, within the community of Cartersville.
Total Number of Buildings: 1
Property Condition: Fair
Number of Stories: 2
Year Built: 1960
Roof Type: Hip
Construction/Siding: Block, Stucco
Exterior Description: Two story with frontage along Hwy 75 Terrace level and 2nd story entrance from the back off of CR 141.
Parking Type: Surface
Parking Description: Open Graveled Parking.
Sprinklers: None
Heat Type: Electricity
Heat Source: Wall Units, Heat Pump
Fuel: Electric
Air Conditioning: Window Unit
Lot Frontage: 132
Lot Depth: 235
Water Service: Municipal
Sewer Type: Septic
Easements: Utilities
Land Ownership: Owned
Legal Description: S20T3R10 PT OF SE1/4-SE1/4 DESC AS: BEG SE INTER OF HWY #75 & CTY RD 141; THN: E 217.45' S 137.3' W 235' N 132.3' TO POB

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 799 3,086 8,263
Median Age: 39.11 39.32 40.82
Households: 324 1,193 3,255


Photograph of Listing Agent

Edward L Holmes

Re/Max Real Estate Center Greater Chattanooga REALTORS® Member
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