6 UNIT APARTMENT: 8727 Millard Lee Ln, Chattanooga, TN 37416
|Catylist Listing ID:
Government Subsidized, Student Housing
|Number of Units:
|Building Size (RSF):
|Gross Land Area:
||$37,500 Per Unit
|Property Use Type:
|Usable Size (USF):
||Cash to Seller
Overview / Comments
This is a great opportunity for an experienced investor. This 6 unit apartment building has opportunity to in value after repairs and provide a great cash flow and income opportunity. 6 Unit Apartment Building, 3 Two Bedroom 1.5 Bath Two Story Units and 3 One Bedroom 1 Bath Units behind building on lower level. The estimated potential gross monthly income with 6 units in that area are $4000-$4500 per month. The Inwood Village neighborhood consists 36 total properties including two story town-homes, single level duplexes, two story duplexes, quadplexes, and this 6 unit apartment. Recent duplex two doors down sold for $132,000 (2 BR and 1 BR units). This 6 unit apartment is the best buy in the neighborhood. Seller is firm on price and this won't last long.
Note: Rendering photos are used for example of after repair value and not included in the price Property is to be SOLD AS IS.
Attachments & Media
||120C A 006.03
|Property Located Between:
||Across from Booker T Washington State Park off of Champion Rd
||Less than 5 minutes to HWY 58
||12 minutes to Chattanooga Airport
||6 Unit Apartment Building, 3 Two Bedroom 1.5 Bath Two Story Units and 3 One Bedroom 1 Bath Units behind building on lower level.
||Multi-Family Neighborhood consisting of 2, 3, 4, and 6 unit buildings. Road access, off street parking.
||Siding and Shingle Roof, 3 Story Building (2 levels and walk out basement/ground level).
||Two parking lots
|Total Parking Spaces:
||2 bedroom units;
1st floor: Living, eat in kitchen, half bathroom, and washer/dryer hookups off kitchen.
1 Bedroom Units
Bedroom, Open concept kitchen with eat in dining and living room space
||Commercial: Multi-Family Apartment
||Lot 20 Inwood Village Sub Unit 1 35 -248 Rev 37-124
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