Catylist ID: #30654828
McCallie Avenue Multi-Family For Sale
Multi-Family for Sale
|Catylist Listing ID:||30654828|
|Property Subtypes:||Duplex/Fourplex, Low-Rise/Garden|
|Number of Units:||9 Units|
|Building Size (RSF):||8,112 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||0.32 Acres|
|Unit Price:||$111,111.11 Per Unit|
|Property Use Type:||Investment|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
Overview / Comments
The Glenwood neighborhood is an investor's dream. It is every bit as desirable and close to downtown as Highland Park, but 4 or 5 years behind in its maturation. Glenwood, like Highland Park is one of the oldest of Chattanooga's five Eastern neighborhoods and is seeing a great amount of influx of young professionals and refurbishing of properties. Ride this wave of higher appreciation!!! Also important is that this property sits on one of the two biggest arteries into to downtown...McCallie Ave with its many convenient travel options from walking and bike lanes to driving and frequent bus service. The apartment complex is about a 10 minute bike ride to Chattanooga's Southside restaurant/craft brewery/club action.
Desirable apartment/duplex complex completely remodeled over the last year with a roof top patio for the Tenants to enjoy.
There are three 2 bedrooms -1 bath, and four 1 bedroom - 1 bath apartments.
There is one duplex with 2 bedroom - 2 1/2 bath unit on each side.
Landlord pays the water, sewer, and internet. Both units were wired with commercial internet service during renovation. Each building has a single network so Tenants do not need their own router.
The owners are under a HOME Program for the duplex (2551 McCallie Ave) which ends August 1, 2024. These rates have to remain with the qualifying income rates until expiration of the program. The apartments are not under this program and can be set at market lease rate.
6% cap rate
Contact agent to request financials.
|Taxing Authority:||Hamilton County, TN|
|Tax ID/APN:||033146K V 01700|
|Property Located Between:||Glenwood and Kilmer|
|Highway Access:||Minutes to I24|
|Airports:||Chattanooga Metropolitan Airport|
|Site Description:||All bricked gated property with parking in the rear of the building.|
|Area Description:||Light commercial, residential, hospitals, doctors.|
|Total Number of Buildings:||2|
|Number of Stories:||2|
|Parking Description:||Private, gated, off street parking.|
|Air Conditioning:||Package Unit|
|Internet Access:||Fiber Optic|
|Legal Description:||Lt 11 Pt Lt 13 Blk 17 Glenwood Pb3 Pg52 Lane Apts|
|Proximity:||1 mile||3 miles||5 miles|
Judy WebsterKeller Williams Realty Greater Chattanooga REALTORS® Member
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