604 Bacon Trail, Chattanooga, TN 37412

Commercial property for lease

• Description
• Very nice 8-plex right off of I-75 and Belvoir Avenue is for sale. It is located in the community of East Ridge. The property is centrally located for easy access to all parts of town including heading south towards Dalton and north towards Cleveland.The complex include 6 2-bedroom and 1 bath apartments that range in rents from $500 to $680 per month. Average rents should be above $650 per month for all 6 units. The 7th unit is a massive 4 bedroom 3 bath apartment that rents for $1,295 per month. I am counting this as 2-units since it has double the rent. It is the most elaborate apartment I have ever seen in Chattanooga. It has two floors, circular stairway, sunken tub, circular bar and a huge living room plus two porches. When it was built, the owner lived in this unit. This penthouse unit also has a pool and deck and cooking area. The pool area is still intact but not open for use. Currently there is one unit vacant. The rents are raised as the units turn. Most of the flooring is now LTV hard flooring. There is still opportunity to upgrade some of the units further and raise rents. List price Cap Rate is at 9% which is calculated from the attached Pro Forma Statement. The seller has only owned the complex for a couple of months so there is only a Pro Forma P&L available. Building price details: $449,000.
• Exterior Features

• Parking:	Yes
  Parking Spaces:	14
  Parking Type:	Structure, Surface

• Contact info
• Robert Fisher

  KW Commercial
• Note

• Details Info about this row that located on 604 Bacon Trail, Chattanooga, TN 37412 was got from trusty sources, but HousesForSaleList.com can't guarantee that details about listing price, status, facts, images and owner are correct, because this listing can be changed or removed from market without notice. If You need to receive additional details about this property try to ask directly listing agent or owned.

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