8 Unit Apartment Building off Dayton Blvd

Multi-Family for Sale
Catylist Listing ID: 30363882
Property Subtypes: Low-Rise/Garden
Number of Units: 8 Units
Building Size (RSF): 7,680 SF
Gross Building Area: See Agent
Gross Land Area: 0.47 Acres
Sale Price: $624,900
Unit Price: $78,112.50 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 1/7/2019

Overview / Comments

Incredible investment opportunity in Red Bank! This well-maintained 8-unit apartment building located off of Dayton Blvd has quick access to NorthShore, downtown Chattanooga, Hixson, and Hwy 27. Currently 88% occupied, this apartment offers a gross monthly income of $5,400. The vacant unit will be left unoccupied while on the market for easy viewing. The complex has tremendous rental potential: standard market demands could increase rent $50 to $75 per month per unit in its current condition or up to $200 per month per unit with the right cosmetic upgrades. All units include 2 bedrooms, 1.5 bathrooms, and 1,000 sqft, featuring a townhome-style layout with a wood-burning fireplace and washer/dryer hookups in each unit. There is an abundance of parking available for tenants, as well as a section reserved for guests. Savvy investors will appreciate that the apartment could be converted into a condo project, allowing the units to be re-sold individually. Don't miss out on this incredible opportunity! Call today for more information or to schedule your private showing.

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Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 117L K 015
Percent Occupied: 88%
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1985
Legal Description: Dayton Blvd

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,986 45,808 108,003
Median Age: 34.78 38.31 38.7
Households: 3,276 20,517 45,960

Contact

Photograph of Listing Agent

Grace Frank

Real Estate Partners Chatt LLC Greater Chattanooga REALTORS® Member
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