Multi-Family Development Site

Multi-Family for Sale
Catylist Listing ID: 30287348
Property Subtypes: Duplex/Fourplex
Building Status: Proposed
Number of Units: 20 Units
Building Size (RSF): 13,930 SF
Gross Building Area: See Agent
Gross Land Area: 1.69 Acres
Sale Price: $400,000
Unit Price: $20,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/30/2018

Overview / Comments

Great multi-family development site with current cash flow/rental income. Plans have already been drawn and approved to add 4 quadplexes and 1 triplex to the property, while a single family home already resides on the parcel. The land has been rezoned to R-3 and the dirt work is being completed for elevation concerns. The 3 bed, 2 bath single family home on the property currently rents for $1,250 a month. With the addition of the 4 quadplexes and triplex, this site would allow for a potential gross monthly income of over $16,000. Just outside of Hamilton Place, tenants would be close to many places of employment, hospitals, shopping, dining, and entertainment. Call today for more information. *Tenant occupied- DO NOT disturb the tenants*

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 138M C 004, 138M C 004.03, 138M C 004.02
Zoning: R-3
Total Number of Buildings: 6
Legal Description: Lt 3 Skiles McCutcheon Rd Prop Pb15 Pg12 Rev 97-95, Lt 2 Skiles McCutcheon Rd Prop Pb97 Pg95 Out Of 138M-C-4 For 2014, Lt 1 Skiles McCutcheon Rd Prop Pb97 Pg95 Out Of 138M-C-4 For 2014

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,923 41,983 121,361
Median Age: 42.59 39.93 39.81
Households: 2,991 18,071 50,516

Contact

Photograph of Listing Agent

Grace Frank

Real Estate Partners Chatt LLC Greater Chattanooga REALTORS® Member
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