2 Home Portfolio

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30263731
Status: Pending/Contingent
Number of Units: 2 Units
Building Size (RSF): 4,914 SF
Gross Building Area: See Agent
Sale Price: $183,900
Unit Price: $91,950 Per Unit
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Income Portfolio
Sale Terms: Cash to Seller
Cap Rate: 9.5%
Average Occupancy Rate: 100
Gross Rent Multiplier: 8.80
Last Updated: 8/17/2018

Overview / Comments

This is a portfolio of 2 single-family homes that have each been occupied at for at least 2 years and well maintained. The current (after taxes and insurance) Net Operating Income (NOI) is $17,456. All of the tenants have expressed a desire to continue leasing.

Addresses:

1. 6010 Wellworth Ave Chattanooga, TN 37412

2. 5806 Clover St. Chattanooga, TN 37412 (Sec. 8)

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: 033169F J 02302P000
Zoning: R-1
Percent Occupied: 100%
Highway Access: I-75, I-24
Airports: Chattanooga Metro Airport
Site Description: These properties are located within 1.6 miles of each other. Quiet neighborhoods with reliable tenants.
Area Description: The properties are located in East Ridge. Some properties in the area if mortgaged may require flood insurance.
Total Number of Buildings: 4
Property Condition: Excellent
Number of Stories: 1
Parking Type: Structure, Surface
Parking Description: Parking style varies with each property.
Laundry: In Each Unit
Sprinklers: None
Heat Source: Central
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: 1. 5806 Clover St Chattanooga, TN 37412 Tax ID: 169F J 008 Legal Description: Lt 4 Blk J Del Rey Park Pb 11 Pg 15 2. 6010 Wellworth Ave Chattanooga, TN 37412 Tax ID: 169F J 023.01 Legal Description: Lts 8&17 Blk D Del Rey Park Pb 11 P G 15

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Contact

Photograph of Listing Agent

Michael Taylor

Premier Property Group Inc. Greater Chattanooga REALTORS® Member
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