Woodland Ridge Apartments

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30426072
Property Subtypes: Low-Rise/Garden
Status: Pending
Number of Units: 24 Units
Building Size (RSF): 21,112 SF
Gross Building Area: 21,610 SF
Gross Land Area: 2.28 Acres
Sale Price: $799,000
Unit Price: $33,291.67 Per Unit
Property Use Type: Investment
Building Name: Woodland Ridge Apartments
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/17/2019

Overview / Comments

ATTENTION INVESTORS - RARE OPPORTUNITY - 24 unit apartment complex located in the town of Monteagle (formerly government subsidized - will transfer WITHOUT the rent restrictions) 8 - 1BR 1BA 685 sq ft units, 16 - 2BR 1BA 977 sq ft units. 3 apartment buildings with On-site management office, playground and 40+ paved parking spots. Current rents are at restricted rates and new owner will have opportunity for higher cap rates due to lifted restrictions at sale.

Additional Details

Nearest MSA: Chattanooga
County: Marion
Tax ID/APN: 031107C D 00700
Zoning: R-3
Community Amenities: Play Ground
Total Number of Buildings: 4
Property Condition: Average
Year Built: 1986
Roof Type: Gable
Construction/Siding: Brick/Vinyl Siding
Parking Type: Surface
Parking Description: 40+ paved parking spots
Laundry: Shared
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 726 5,354
Median Age: 53.61 44.98
Households: 259 2,192

Contact

Photograph of Listing Agent

Pamela D Brown

Century 21 Professional Group Greater Chattanooga REALTORS® Member
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