Multi-Family Investment

Multi-Family for Sale
Catylist Listing ID: 30552684
Property Subtypes: Duplex/Fourplex
Number of Units: 15 Units
Building Size (RSF): 10,000 SF
Gross Building Area: See Agent
Gross Land Area: 4.49 Acres
Sale Price: $1,299,000
Unit Price: $86,600 Per Unit
Property Use Type: Investment
Building Name: Clair St
Sale Terms: Cash to Seller
Cap Rate: 8.9%
Average Occupancy Rate: 100
Last Updated: 1/23/2020

Overview / Comments

Owner of the property is also the builder of all buildings with the exception of the older home with an apartment in the rear which was on the property when he purchased it.

Construction of the newer units within the last two years is a combination of wood frame, brick veneer, masonry brick , and T1-11 Siding. Units have ramps, walk-in-showers, handicap accessible to all rooms. Units have very low electric bills due to the extra insulation and energy efficient HVAC's. Square footage ranges from 800 to 1500. All units are furnished with laundry hook ups, refrigerators, range/oven, microwave, and dishwasher.

The residential home was built in 1952. The other units were built from 2018-2019. The property is not in a flood zone.

Owner chose to make this a 50 year plus community with no children. The community is well kept and maintained.

Property is on sewer with underground utilities.

NOI $116,010. Call agent for additional details.

Attachments & Media

Additional Details

Nearest MSA: Chattanooga
County: Walker
Taxing Authority: Walker County
Tax ID/APN: 0205 097
Zoning: R 2
Percent Occupied: 100%
Property Located Between: South Crest and MIssionair
Highway Access: I 24
Airports: Chattanooga Metropolitian
Site Description: Level, gravel driveways, an the end of quiet cul-de-sac, surrounded by residential homes
Area Description: Residential homes, very convenient to South Crest, which leads you to Rossville Blvd to go downtown, or toward John Ross to Ringgold Rd to go the I24 toward East Brainerd or Hixson.
Total Number of Buildings: 15
Property Condition: Average
Number of Stories: 1
Year Built: 2018
Parking Type: Surface
Laundry: In Each Unit
Heat Type: Electricity
Heat Source: Wall Units
Internet Access: Fiber Optic
Interior Description: Each unit is a one bedroom with a living room, walk in shower, kitchen, and breakfast area.
Zoning Description: R 2
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: PTLL 11 9/4 Lots 80 81 82 & 83 Villard Hgts

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,072 69,697 132,948
Median Age: 38.64 37.31 37.13
Households: 4,062 28,802 54,227


Photograph of Listing Agent

Judy Webster

Keller Williams Realty Greater Chattanooga REALTORS® Member
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