3600 Shirl Jo Ln - Apartments FOR SALE


East Ridge, TN 37412
$1,325,000 USD
423-682-8241
3600 Shirl Jo Ln, East Ridge, TN for Sale
$1,325,000 USD
Apartments - FOR SALE
1/10
null | Request Cap Rate

3600 Shirl Jo Ln
East Ridge, TN 37412


HIGHLIGHTS

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

OVERVIEW

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!

FOR SALE DETAILS

PRICE

$1,325,000 USD

PRICE/SF

$164 USD /SF

# OF UNITS

8

PRICE/UNIT

$165,625

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1975

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

27,745 SF

ZONING

R-2

APN/PARCEL ID

168K-L-018.05

ASK ABOUT THIS PROPERTY

Bianca PichardoSVN | Second Story Real Estate ManagementMore Info
423-682-8241

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Bianca PichardoSVN | Second Story Real Estate ManagementMore Info
423-682-8241

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.