Downtown Apartment Building for Sale

Multi-Family for Sale
Catylist Listing ID: 30531995
Property Subtypes: Mid-Rise, Mixed Use, Student Housing, Other
Number of Units: 25 Units
Building Size (RSF): 18,600 SF
Gross Building Area: See Agent
Sale Price: $2,950,000
Unit Price: $118,000 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Average Occupancy Rate: 92
Last Updated: 12/2/2019

Overview / Comments

This twenty-five (25) unit apartment building is centrally located in downtown Chattanooga and within walking distance of UTC and many other downtown attractions. The building maintains a high occupancy rate year-round and units are remodeled as they turnover.

307 East 8th Street is an amazing investment opportunity to own a quality apartment building located within a Qualified Opportunity Zone in the Chattanooga downtown area.

The apartment building is part of a larger portfolio that can be purchased individually or collectively.

Contact agent to schedule an appointment. Due Diligence package available upon request and execution of an NDA.

Attachments & Media

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 033145D M 01400
Zoning: U-CX-6
Percent Occupied: 92%
Property Located Between: McCallie Avenue and MLK.
Total Number of Buildings: 1
Property Condition: Average
Number of Stories: 4
Year Built: 1920
Roof Type: Flat
Laundry: Shared
Sprinklers: None
Zoning Description: The Commercial Mixed Use (U-CX) zone is intended to accommodate a variety of residential, retail, service and commercial building forms and uses. U-CX-6 allows for a maximum of 6 stories.
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,060 49,743 126,988
Median Age: 32.05 33.18 36.59
Households: 4,213 19,887 52,727

Contact

Photograph of Listing Agent

Frazier DeVaney

NAI Charter Real Estate Corp. Greater Chattanooga REALTORS® Member
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