15 Unit Package Deal

Multi-Family for Sale
Catylist Listing ID: 30503348
Property Subtypes: Duplex/Fourplex, Other
Number of Units: 15 Units
Building Size (RSF): 13,892 SF
Gross Building Area: See Agent
Sale Price: $885,000
Unit Price: $59,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 10/7/2019

Overview / Comments

Investors, here's the deal you've been looking for! This investment package deal features 9 properties with a total of 15 units all located within a block of each other in a quiet Jasper neighborhood. Currently 100% occupied with a GMI of $7,150. One of the units is owner occupied - rent for that particular unit would be $550 a month if occupied by a tenant. Composed of 4 single family homes, 4 duplexes, and 1 triplex, the addresses included are 202, 204 & 206 Meadow Ave, 305 & 307 Elm Ave, 405 W 3rd St, 301 Elm Ave, 404 W 3rd St, 406 W 3rd St, 209 Elm Ave, 403 W 3rd St, and 402 & 404 2nd St. All properties have off street parking. Situated just minutes from interstate access, these properties are only 20 minutes away from Bridgeport, AL and 35 minutes from downtown Chattanooga. Currently there is a housing shortage in Bridgeport, AL due to the influx of workers at the new Google facility. Because of this, the current rental rates are priced under market value and there is the potential to increase rents. Call today for more information.

Additional Details

Nearest MSA: Chattanooga
County: Marion
Tax ID/APN: 108M B 004.02, 108M A 044.00, 108M B 004.00, 108M B 004.01, 108M A 044.01
Percent Occupied: 100%
Total Number of Buildings: 9

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,057 4,028 9,611
Median Age: 47.36 43.97 42.9
Households: 456 1,709 3,884

Contact

Photograph of Listing Agent

Grace Frank

Real Estate Partners Chatt LLC Greater Chattanooga REALTORS® Member
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