This property consist of 36 units with a mix of 16 2bed/1bath (700 s.f.) - 4 1bed/1bath (600 s.f.) - 16 1bed/1bath (525 s.f.) units. New metal roof in 2009. Parking lot resurfaced and restripesd in 2014. Interior upgrades suggested by owner. Under current management it has produced a NOI 110K and a gross income 238K annually.

This properties geographic location in the City of Red Bank makes it especially desirable for investors. Red Bank covers a land area of only 6.4 miles and is geographically surrounded by the City of Chattanooga. Tax rates in Red Bank are 58% lower than Chattanooga. Located only 4 miles from downtown Chattanooga this property gets the benefit of a short commute without being exposed to the higher tax rates in the area.

Location Description:

Located just 10 minutes north of Downtown Chattanooga. Located in the desirable Red Bank sub-market right on Dayton Blvd. Great location for commuting downtown without the need to get on the highway. Only three miles form the Stringers Ridge Park a 92 acre urban wilderness park known for it's view overlooking downtown Chattanooga and the Tennessee River.

Highlights:

>> Commute to downtown is only 4 miles south on Dayton Blvd.

>> Stable income producing property in the Red Bank district.

>> New metal roof installed 2009.

>> Parking lot resurfaced and re-striped in 2014.

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Sellers are open to creative sale options. The property does have an assumable mortgage, with terms available subject to NDA. Great opportunity in a market that has been steadily increasing in value due to the massive influx of jobs and infrastructure. Great region of Tennessee providing investors with great returns and upside potential.

Sales Info:

>> Cap rate: 7.08%

>> Commision split: 2.5%

>> NOI: $130496