10 House Multifamily Investment

Multi-Family for Sale
Catylist Listing ID: 30315171
Number of Units: 10 Units
Building Size (RSF): 1,300 SF
Gross Building Area: 12,998 SF
Sale Price: $1,206,900
Unit Price: $120,690 Per Unit
Property Use Type: Investment
Building Name: Set of 10 Houses
Usable Size (USF): 12,998 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Gross Rent Multiplier: 8.85
Last Updated: 8/17/2018

Overview / Comments

Very solid investment of 10 single family houses located in the East Ridge area , North Georgia and Fort Oglethorpe areas. See location map. The houses are currently 100% occupied and generate $136,380 of annual income or $11,365 of monthly income. That income provides at List Price Rent Multiplier of 8.85 and a Cap Rate of 8.26%. All houses are 2 or 3 bedroom houses. Typical rents are $1,125 to $1,300 per month. This collection of houses will move quickly. Act Now.

Over the last several years the seller has spent $148,000 of documented capital expenses. Schedule available upon request.. Property taxes and insurance rates are also shown on a schedule.

Agents and Buyers: Seller wants to minimize the showings so as not to disturb his tenants. Please go by all houses and be very serious before we set up showings.

Reports available upon request:
Improvements Schedule
Rent Roll 2015, 2016, 2017 & 2018
Current Income, Property Taxes and Insurance
10 Tax Cards
Location Map
2017 & YTD 2018 P&L

Additional Details

Nearest MSA: Chattanooga
County: Catoosa
Taxing Authority: Catoosa County
Tax ID/APN: 00038A-020
Zoning: RESIDENTIAL
Percent Occupied: 100%
Property Located Between: various
Highway Access: Various
Airports: Chattanooga Metropolitan
Site Description: various
Area Description: Single family homes
Total Number of Buildings: 10
Property Condition: Average
Number of Stories: 1
Laundry: In Each Unit
Sprinklers: None
Heat Source: Central
Interior Description: 2 and 3
Water Service: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,483 23,789 56,450
Median Age: 35.97 37.84 39.36
Households: 3,086 8,900 21,969

Contact

Photograph of Listing Agent

Robert Fisher

KW Commercial Greater Chattanooga REALTORS® Member
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