14 Units in Red Bank

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30264280
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 14 Units
Building Size (RSF): 8,064 SF
Gross Building Area: See Agent
Sale Price: $695,000
Unit Price: $49,642.86 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 2/21/2019

Overview / Comments

Property recently rehabbed and stabilized. The property has 14 units, all one bedroom and one bathroom. Location is excellent in Red Bank, TN, just 11 minutes from unit to parking in downtown Chattanooga. Quiet neighborhood. Healthy rental demand.

8 units have in unit laundry.


Finance Data Year 2018
Real Estate Taxes - Annual($) $6,574 (Annual)
Potential Rental Income $89,880 (Annual)
Net Operating Income $51,430 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 109G G 016
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 2
Year Renovated: 2017
Construction/Siding: Brick
Exterior Description: Painted Brick front with stucco and vinyl on side and rear of building.
Parking Type: Surface
Heat Type: Electricity
Heat Source: Wall Units
Air Conditioning: Window Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,550 41,436 95,746
Median Age: 40.83 39.12 40.33
Households: 3,826 18,554 41,336


Photograph of Listing Agent

Ben Van Gaasbeek

RealSmart Greater Chattanooga REALTORS® Member
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