Summitt Street 8-Unit Apartments

Multi-Family for Sale
Catylist Listing ID: 30337417
Property Subtypes: Duplex/Fourplex
Number of Units: 8 Units
Building Size (RSF): 8,440 SF
Gross Land Area: 0.59 Acres
Sale Price: $575,000
Unit Price: $71,875 Per Unit
Property Use Type: Business
Building Name: Summitt Street
Usable Size (USF): 8,440 SF
Sale Terms: Cash to Seller
Cap Rate: 9.43%
Average Occupancy Rate: 100
Gross Rent Multiplier: 8.95
Last Updated: 2/15/2019

Overview / Comments

Summitt Street Apartments (off Hogan Rd in Rossville, GA) are housed in an eight-unit apartment. Each apartment is 2 bedroom and 2 bath with fireplace. 4 Apartments on top and 4 apartments on the bottom.

Summitt Street Apartments sold independently of Roberta Drive and Chickamauga Avenue Apartments.

Additional Details

Nearest MSA: Chattanooga
County: Walker
Taxing Authority: Rossville
Tax ID/APN: 2010 038
Zoning: C-2
Percent Occupied: 100%
Property Located Between: Summitt Street and Hogan Road
Highway Access: Hogan Rd to Chickamauga Ave. Hwy 27 North to Chattanooga or South to Fort Oglethorpe, GA.
Airports: Chattanooga Lovell Field
Site Description: 8 Unit Apartments, 100% occupied, well maintained with 2 bedroom and 2 bathrooms with Fireplace in each apartment.
Area Description: Rossville, GA is centered around Hwy 27, Rossville Blvd going north to Chattanooga with traffic counts topping 30,000 vehicles per day and Highway 27 South to the city of Fort Oglethorpe, Ga.
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 2
Year Built: 1988
Year Renovated: 2005
Roof Type: Arched
Construction/Siding: HardiePlank Siding
Exterior Description: 8 Unit Building composed 2 bedroom and 2 bathroom apartments each with a fireplace.
Parking Ratio: 1 (per 1000 SF)
Parking Type: Surface
Parking Description: Total parking 2 per apartment unit.
Total Parking Spaces: 16
Laundry: Laundromat Nearby
Sprinklers: None
Heat Type: Electricity
Heat Source: Central, Other
Fuel: Electric
Air Conditioning: Engineered System
Internet Access: Gigabit
Interior Description: fireplace, kitchen, 2 bedrooms, and 2 bathrooms.
Zoning Description: Zoned C-2
Lot Frontage: 126'
Lot Depth: 205'
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: Ptll 10 9/4 Landlot: 10 Landdist: 9/4

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,162 60,008 132,917
Median Age: 39.77 36.9 37.47
Households: 3,364 24,559 54,440


Photograph of Listing Agent

Tad Bromfield

Sentinel Commercial Properties Greater Chattanooga REALTORS® Member
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