2 Duplex Package Deal in Hixson with Immediate Cash Flow

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30794777
Property Subtypes: Duplex/Fourplex
Status: Pending/Contingent
Number of Units: 4 Units
Building Size (RSF): 3,196 SF
Gross Building Area: See Agent
Gross Land Area: 0.49 Acres
Sale Price: $525,000
Unit Price: $131,250 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 4/11/2022

Overview / Comments

Incredible opportunity to purchase two duplexes in Hixson with excellent rental history. 4460 & 4500 Norcross Rd are neighboring single-story duplexes being sold together as a package deal. Both were built in 1963 and feature 1,598 sqft, low maintenance brick exteriors, and 7 year old architectural shingle roofs. All four units boast 2 bedrooms, 1 full bathroom, living rooms, eat-in kitchens, washer/dryer hookups, and off-street parking. Additionally, three of the units offer hardwood flooring. The duplexes are currently 100% occupied with a $2,775 GMI. If all units were rented at market rent, GMI could be $4,400. Centrally and conveniently located between Hixson, Red Bank and downtown Chattanooga, these properties are a quick drive to an abundance of grocery stores, restaurants, local businesses and shops, major retailers, and schools alike. Since the properties are tenant occupied, showings can only be scheduled after an accepted letter of intent or accepted contract. To be sold as-is.

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Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 109E L 028 & 109E L 029
Zoning: R-2
Percent Occupied: 100%
Total Number of Buildings: 2
Number of Stories: 1
Year Built: 1963
Laundry: In Each Unit
Heat Source: Central
Air Conditioning: Engineered System
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 1830D 11 32 Lt 4 Hixson Heights Revised Pb 23 Pg 107 & 1830D 11 35 Lt 3 Hixson Heights Revised Pb 23 Pg 107

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,935 39,674 98,695
Median Age: 38.7 40.75 40.04
Households: 4,222 17,675 42,552

Contact

Photograph of Listing Agent

Grace Frank

Chattanooga Real Estate Group Greater Chattanooga REALTORS® Member
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