Pinewood Ave Multi-Family Package

Multi-Family for Sale
Catylist Listing ID: 30279984
Property Subtypes: Duplex/Fourplex
Number of Units: 18 Units
Building Size (RSF): 16,344 SF
Gross Building Area: See Agent
Sale Price: $1,200,000
Unit Price: $66,666.67 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 7/2/2018

Overview / Comments

Great long-term investment opportunity in Brainerd. Five contiguous buildings (3324, 3328, 3332, 3336 and 3340 Pinewood Ave) are being sold together for a package price of $1,200,000. Composed of 4 quadplexes and 1 duplex nestled at the wood's edge. Typically occupied between 94% to 100%. The buildings offer ample off-street tenant parking and are located close to a bus line. Washer and dryer facility on site, as well as office and tenant storage area. Current tenant storage area is not being marketed, yet could be a value of $35 to $45 per month per unit. Quadplexes are all low maintenance brick, and all buildings have all been well maintained. 2017 gross income was $120,000. Two units have been made vacant for easy showing, but an acceptable Letter of Intent is required to inspect the remaining non-vacant units. Properties will not be sold individually. If you are looking for long-term cash flow and low maintenance investment properties, call today for a private showing!

Attachments & Media

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 147p B 018.04, 147p B 018.03, 147p B 018.02, 147p B 018.01, 147p B 018
Total Number of Buildings: 5
Property Condition: Good
Laundry: Shared
Legal Description: Lt 3 Pinewood Terrace Addn Pb62 Pg1 12, Lt 4 Pinewood Terrace Addn Pb62 Pg1 12, Lt 5 Pinewood Terrace Addn Pb62 Pg1 12, Lt 6 Pinewood Terrace Addn Pb62 Pg1 12, Lt 7 Pinewood Terrace Addn Pb62 Pg1 12

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,673 82,254 160,115
Median Age: 38.07 35.96 37.02
Households: 6,171 32,890 67,263

Contact

Photograph of Listing Agent

Grace Frank

Real Estate Partners Chatt LLC Greater Chattanooga REALTORS® Member
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