4 Units in Stringers Ridge/Red Bank Area

Multi-Family for Sale
Catylist Listing ID: 30394604
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 2,800 SF
Gross Building Area: See Agent
Sale Price: $239,900
Unit Price: $59,975 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 3/15/2019

Overview / Comments

OCCUPIED, do not walk property or disturb tenants. 944 & 946 E Elmwood. Two identical duplexes located in the Red Bank/North Chatt area.e. Shotgun style floorplan. 1 unit completely renovated with new fridge, dishwasher, LVT flooring throughout, new toilet, vanity, cabinets, etc & 2nd bedroom closed in with door. 1 unit very well maintained, clean. 2 units will need updating once the tenants move out. 3 units have 1 completely private bedroom w/ the other being open. Wall easy to add to make 2nd private bedroom. 100% occ w/ tenants who pay rent on time. 3 are long term - month-to-month leases, 1 is newer in the reno unit for $750 p/m. Gross rent potential is $3k p/m once other units are updated and re-leased. Lots of new construction in the area and adjacent to the duplex. Easy to Dayton Blvd, Hwy 27, Dtown. Owner/Agent.

Adjacent to new construction. All tenants now on month-to-month lease. Seller to credit security deposits at closing.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $2,970 (Annual)
Net Operating Income $21,141 (Annual)

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 033135B B 01700
Zoning: R-2
Percent Occupied: 100%
Total Number of Buildings: 2
Property Condition: Fair
Number of Stories: 1
Year Built: 1930
Roof Type: Arched
Construction/Siding: Wood Siding
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Gigabit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,670 42,273 114,418
Median Age: 33.24 34.96 36.99
Households: 1,634 17,795 47,954

Contact

Photograph of Listing Agent

Thomas Connolly

Uptown Firm, LLC Greater Chattanooga REALTORS® Member
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