Catylist ID: #30193748
New Construction Triplex For Sale
Multi-Family for Sale
|Catylist Listing ID:||30193748|
|Number of Units:||3 Units|
|Building Size (RSF):||2,550 SF|
|Gross Land Area:||0.33 Acres|
|Unit Price:||$116,333.33 Per Unit|
|Property Use Type:||Investment, Vacant/Owner-User|
|Building Name:||531 Lower Cravens Terrace|
|Usable Size (USF):||850 SF|
|Sale Terms:||Cash to Seller|
|Gross Rent Multiplier:||8.33|
Overview / Comments
This property is a brand new construction of a triplex multifamily complex. It is located on the side of Lookout Mtn. near Ruby Falls. The suites are townhouse style with the master bedroom and bath located upstairs with the kitchen,great room and a half bath downstairs.. All three are 1-bedroom/ 1 1/2 baths of about 850 square feet with 425 SF downstairs and 425 SF upstairs. They are all electric units with common water.
I have attached a pro forma investment analysis for the property. The pro forma is run at $300,000 with the extra land being worth $49,000.
In addition to the existing new triplex the lot will allow for an additional structure to be built with a footprint of about 1,500 SF. So, if a 2-story structure was built another 4 units might be added to the property. Buyer to confirm all of these details for an additional building. See property plans for clarification of the location. This building would have a view overlooking the city.
Two units have never been occupied and the seller is living in the third unit and will move upon the sale.
The units all have a 2-hour fire wall separating each unit from the other so that it could might be divided into a condominium.
Attachments & Media
|Taxing Authority:||Hamilton County|
|Tax ID/APN:||155I C 018|
|Property Located Between:||Near Ruby Falls - Side of Lookout Mtn|
|Highway Access:||At the foot of Lookout Mtn. take Cummings Hwy to Scenic Hwy and proceed up Lookout Mtn. Pass Ruby Falls on the right and go about 1/2 mile further and take a left onto Lower Cravens Terrace Rd.|
|Site Description:||The site is level with a new triplex. Behind the triplex is a possible location for an additional building.|
|Area Description:||Lower Cravens Terrace Road has both single family and multi unit properties.|
|Total Number of Buildings:||1|
|Number of Stories:||2|
|Exterior Description:||Block and aluminum siding|
|Parking Description:||Ample parking around the building.|
|Total Parking Spaces:||6|
|Laundry:||In Each Unit|
|Heat Source:||Wall Units|
|Air Conditioning:||Package Unit|
|Interior Description:||Bedroom and master bath are upstairs. Kitchen and living room are on the ground floor.|
|Zoning Description:||R2 Residential|
|Easements Description:||On the lower lot there is along the fence a 10-foot power lines easement.|
|Proximity:||3 miles||5 miles|
Robert FisherKW Commercial GCR CMLS Member
|© Copyright 2001-2018 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Greater Chattanooga Association of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.|