Catylist ID:
#30597400
31-Bed Student Housing Investment - Chattanooga
Multi-Family
for Sale
Sale Pending
| Catylist Listing ID: | 30597400 |
| Property Subtypes: | Mid-Rise |
| Status: | Pending |
| Number of Units: | 31 Units |
| Building Size (RSF): | 9,445 SF |
| Gross Land Area: | 0.10 Acres |
| Sale Price: | $1,750,000 |
| Unit Price: | $56,451.61 Per Unit |
| In Opportunity Zone? | Yes |
| Property Use Type: | Investment |
| Building Name: | Vine 324 |
| Usable Size (USF): | 9,445 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 5.99% |
| Average Occupancy Rate: | 90 |
| Last Updated: | 3/29/2021 |
Overview / Comments
|
For Sale | Investment Opportunity | Vine324 $1,750,000 | 5.99% Pro Forma CAP Vine 324 is a 31-bed Student Housing Multifamily property just one block from the UTC campus. The entire campus is walk-able from this complex. Vine 324 was built in 2014. There are seven 4-bedroom units and one 3-bedroom unit. Each Unit Includes: - Full sized front loading washer and dryer - Kitchen Area - Common Area - Shared "Jack & Jill" Bathrooms - Private Bedrooms - Sink in each bedroom UTC has about 11,000 students and has grown to a great regional campus and is part of the University of Tennessee campus system. Currently, the leases are all-inclusive in terms charges to the tenant. All utilities and services are included. Also, all leases are co-signed with parents or guardians. See brochure for trailing 12-month P&L, Rent Roll and further information! |
Attachments & Media
Additional Details
| Nearest MSA: | Chattanooga |
| County: | Hamilton |
| Taxing Authority: | Hamilton County / Chattanooga City |
| Tax ID/APN: | 033145D B 00900 |
| Zoning: | U-CX-6 |
| Percent Occupied: | 90% |
| Property Located Between: | Vine St & Lindsay St |
| Highway Access: | Hwy access is easy via Amnicola Hwy or Hwy 127. |
| Airports: | Chattanooga Metropolitan Airport |
| Site Description: | The site is located 1-block form the UTC campus. The whole campus is walk-able from the property. |
| Area Description: | UTC is an urban campus in downtown Chattanooga. |
| Total Number of Buildings: | 1 |
| Property Condition: | Good |
| Number of Stories: | 4 |
| Year Built: | 2014 |
| Roof Type: | Flat |
| Construction/Siding: | Brick |
| Parking Type: | Surface |
| Parking Description: | Parking passes are available to tenants for $40/month. The rental lot is across the street. |
| Total Parking Spaces: | 30 |
| Passenger Elevators: | 1 |
| Laundry: | In Each Unit |
| Sprinklers: | Wet |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Air Conditioning: | Engineered System |
| Internet Access: | Gigabit |
| Interior Description: | There are seven 4-bedroom units and one 3-bedrooms unit. 31 beds in all. |
| Zoning Description: | Urban Commercial Mixed Use-6 stories (U-CX-6) |
| Lot Frontage: | 51 |
| Lot Depth: | 67 |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Land Ownership: | owned |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 7,693 | 50,402 | 133,127 |
| Median Age: | 28.51 | 33.42 | 36.9 |
| Households: | 2,275 | 20,237 | 55,282 |
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