9 Townhomes

Multi-Family for Sale
Catylist Listing ID: 30334242
Number of Units: 9 Units
Building Size (RSF): 8,064 SF
Gross Building Area: See Agent
Gross Land Area: 0.96 Acres
Sale Price: $685,000
Unit Price: $76,111.11 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Average Occupancy Rate: 100
Last Updated: 10/2/2018

Overview / Comments

Great Investment Opportunity. 9 Town home units consisting of 3 buildings with 3 units in each building. Units are approx. 896 sq. ft. with 2 bedrooms and 1 1/2 baths. Newer appliances (refrigerator, range/oven, microwave (8), dishwasher). 2 units have been completely remolded with custom cabinets, wood floors, granite counter tops and built-in tile shower. Roof is 4 years old. All units have new decks. Rental income: 2 units for $550.00 per month, 1 unit for $600.00 per month, 4 units for $650.00 per month, 2 units for $800.00 per month. Total = $70,800.00 annual. Annual expenses: Taxes = $3,900, Insurance = $2,800, Trash pick-up = $700, Lawn care = $900, Repairs and Maintenance = $2,500. Total = $10,800. These town homes are one of the best in Decatur, TN.

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Additional Details

Nearest MSA: Athens
County: Meigs
Submarket Type: Other
Taxing Authority: Meigs County
Tax ID/APN: 042F-A-006.02
Zoning: R-3
Percent Occupied: 100%
Community Amenities: Play Ground
Property Located Between: Decatur, TN
Highway Access: State Highway #58
Airports: Athens
Total Number of Buildings: 3
Property Condition: Excellent
Number of Stories: 2
Year Built: 1996
Roof Type: Hip
Construction/Siding: Stucco
Parking Type: Surface
Parking Description: Concrete with off street parking
Total Parking Spaces: 30
Laundry: In Each Unit
Sprinklers: Dry
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Package Unit
Internet Access: Cable
Zoning Description: Multi-family
Lot Frontage: 125
Lot Depth: 336
Water Service: Municipal
Sewer Type: Municipal
Easements Description: None
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,631 6,450
Median Age: 42.44 41.46
Households: 1,825 2,517

Contact

Photograph of Listing Agent

Max Phillips

Crye-Leike, REALTORS Greater Chattanooga REALTORS® Member
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