**9% CAP OWNER FINANCING 800K ,BRICK,CONCRETE | 110 St Clair Dr
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**9% CAP OWNER FINANCING 800K ,BRICK,CONCRETE 110 St Clair Dr
28 Unit Apartment Building $2,300,000 ($82,143/Unit) 8.87% Cap Rate Dunlap, TN 37327
Investment Highlights
- Favorable Owner Financing Terms
- Managment already in Place
- Room to go up on rents and some units are already at 1000 per month automatically deposited from SETHRA
- All Brick and Concrete Construction with Metal Roofs
- Located in the beautiful Sequatchie Valley 25 Minutes from Chattanooga
Executive Summary
28 Units total located in thriving Dunlap TN of the beautiful Sequatchie Valley 25min. to DT Chattanooga. Property located in the middle of town walking distance to restaurants, stores, New city park with water features for the kids, stage for live shows and Walmart. 2 units are used for office and grounds worker/storage. All one level units no steps,15-2 bedrooms 13-1 bedrooms. Rents range from 600 to 1000 per unit (much room for upside) Brick concrete block construction with metal roofs. Built as a hospital originally, Owner pays water and trash. Manager will stay on for 5% fee. Laundry mat is available on property. Owner will consider financing with 800K Down on a 30 year Amortization with a 20 year balloon @5.9%
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$207,573
|
$9.15
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $207,573 |
| Annual Per SF | $9.15 |
Property Facts
| Price | $2,300,000 | Building Class | C |
| Price Per Unit | $82,143 | Lot Size | 1.90 AC |
| Sale Type | Investment | Building Size | 22,679 SF |
| Cap Rate | 8.87% | Average Occupancy | 100% |
| No. Units | 28 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1955/2014 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $2,300,000 |
| Price Per Unit | $82,143 |
| Sale Type | Investment |
| Cap Rate | 8.87% |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.90 AC |
| Building Size | 22,679 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1955/2014 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
| 2+1 | 10 | - | - |
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PROPERTY TAXES
| Parcel Number | 047A-B-014.00 | Improvements Assessment | $240,960 |
| Land Assessment | $36,480 | Total Assessment | $277,440 |
PROPERTY TAXES
Parcel Number
047A-B-014.00
Land Assessment
$36,480
Improvements Assessment
$240,960
Total Assessment
$277,440
zoning
| Zoning Code | FLOOD |
| FLOOD |
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**9% CAP OWNER FINANCING 800K ,BRICK,CONCRETE | 110 St Clair Dr
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