Red Bank Quadruplex with high income potential

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30214341
Property Subtypes: Duplex/Fourplex
Status: Pending/Contingent
Number of Units: 4 Units
Building Size (RSF): 2,200 SF
Gross Building Area: See Agent
Sale Price: $249,900
Unit Price: $62,475 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 10.0%
Last Updated: 3/22/2018

Overview / Comments

BRING YOUR INVESTORS! This quadruplex is located in the heart of Red Bank, just 5-7 minutes to downtown! 3 of the 4 units have been completely renovated from the flooring to the bathrooms, AC units, appliances and kitchens. All 4 have 2 large walk-in closets. Bedrooms are large and easily fits a king bed and end tables. Potential for return is high... easily pulling $650 in the top 2 units and $750 in the bottom 2 units for a total of $2800. Bottom 2 units have washer & dryer hookups, top 2 units have a place to install them if you wanted. One long term tenant is paying well below market rate and lease is up in April (not renovated) but the other rents are strong. OWNER-OCCUPANTS CAN BUY WITH AS LITTLE AS 3.5% DOWN AND LIVE FOR FREE AS RENTS COME IN! Call now for more information!

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 126C G 017
Property Located Between: Corner of W Ridgewood and Sweetland, Right off Dayton Blvd
Highway Access: 5 min from Hwy 27
Airports: Chattanooga Metropolitan Airport
Area Description: Growing area with many new construction and flips around the house.
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1971
Year Renovated: 2017
Construction/Siding: Brick
Exterior Description: First floor is brick and second floor is siding. Roof is 2 years old.
Parking Type: Surface
Parking Description: Driveway, each apartment has room for 2 cars.
Total Parking Spaces: 8
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Other
Fuel: Electric
Air Conditioning: Other
Internet Access: Cable
Lot Frontage: 155.5
Lot Depth: 75
Water Service: Municipal
Sewer Type: Municipal
Easements Description: NONE
Legal Description: Pt Lt 61 Smartt Edmondson & Coker N /R

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,065 39,521 109,529
Median Age: 33.55 38.62 38.12
Households: 3,815 17,717 45,992


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