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3600 Shirl Jo Ln

8 Unit Apartment Building $1,325,000 ($165,625/Unit) East Ridge, TN 37412

Investment Highlights

  • Situated in the vibrant area of East Ridge, just minutes from local amenities, parks, shopping, and major transportation routes.
  • Five units have been beautifully updated with modern finishes.
  • Fresh landscaping enhances the property’s exterior, creating an inviting atmosphere for residents and guests.
  • Benefit from a consistent income stream with established tenants and high occupancy rates.
  • Plumbing has been upgraded, providing peace of mind for future maintenance and tenant satisfaction.
  • Convenient on-site parking for tenants, ensuring ease of access.

Executive Summary

SVN | Second Story is pleased to introduce this prime Investment opportunity at Riverstone Apartments, located in the vibrant East Ridge area. Boasting 8 units, this property offers an attractive unit mix of spacious 2-bedroom units. 5 out of the 8 have been fully renovated, achieving top of market rents. Each unit is thoughtfully designed to provide both functionality and comfort, ensuring a desirable living experience for tenants. The units have been updated with modern finishes, including LVP flooring, fresh paint, new kitchen cabinets, stainless steel appliances, LED bath mirrors, and renewed wood balconies, enhancing appeal to potential tenants. With its convenient access to amenities and transportation, this property is primed to attract tenants looking for convenience and connectivity. The property provides ample parking, grill/picnic area, close proximity to Downtown and Hamilton Place, and remaining upside for the new owner. This is a great opportunity for investors seeking a renovated, low maintenance building that attracts reliable, long-term tenants seeking the best, affordable place to live.
This apartment building is not just a property; it’s a gateway to a lucrative investment in a promising location. Don’t miss your chance to add this gem to your portfolio!

Property Facts

Price $1,325,000
Price Per Unit $165,625
Sale Type Investment
No. Units 8
Property Type Multifamily
Property Subtype Apartment
Building Class C
Lot Size 0.64 AC
Building Size 8,056 SF
Average Occupancy 100%
No. Stories 2
Year Built/Renovated 1975/2024
Parking Ratio 1.24/1,000 SF

Amenities

  • Smoke Detector

Unit Amenities

  • Air Conditioning
  • Balcony
  • Microwave
  • Washer/Dryer
  • Heating
  • Kitchen
  • Hardwood Floors

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 8 - 1,007

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
168K-L-018.05
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$185,480

zoning

Zoning Code R-2
R-2
  • Listing ID: 33773035

  • Date on Market: 11/6/2024

  • Last Updated:

  • Address: 3600 Shirl Jo Ln, East Ridge, TN 37412

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