924 E 8th St - Dormitory FOR SALE


Chattanooga, TN 37403- Arts District
$2,999,000 USD
423-667-6204
924 E 8th St, Chattanooga, TN for Sale
$2,999,000 USD
Dormitory - FOR SALE
1/26
null | Request Cap Rate

924 E 8th St
Chattanooga, TN 37403
Arts District


HIGHLIGHTS

  • Within walking distance to UTC
  • One block from bus stop
  • Opportunity Zone

OVERVIEW

This multi-family property is an opportunity to own a great investment in an ideal location. Located in a vibrant neighborhood, these two buildings are strategically positioned for maximum rental appeal. Located just steps away from the UTC campus, one block from the campus bus stop and close to restaurants and other amenities. With multiple units available, you can enjoy a steady stream of rental income while building equity. The property features modern amenities, spacious layouts, and a welcoming atmosphere for tenants. Both buildings have been completely updated in 2016 with new plumbing, HVAC, electrical, new drywall and many more updates. The original charm of the two units has been preserved in the original floors, stairs, finial and banister. The property is in the Opportunity Zone and as a bonus is zoned for short term vacation rental. The first building has 18 bedrooms, large kitchen, laundry room with five washers and five dryers, open community living room, large 800sf conference/community hall, and two dorm style bathrooms with multiple sinks, showers and toilets. On the third floor is a one bedroom apartment complete with kitchen, bathroom, dining space and large living room. The second building has 6 bedrooms, large kitchen, living room, two bathrooms with multiple sinks, showers and toilets. Investing in this multi-family property means tapping into a growing market with increasing demand for rental housing.

FOR SALE DETAILS

PRICE

$2,999,000 USD

PRICE/SF

$298 USD /SF

# OF UNITS

25

PRICE/UNIT

$119,960

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multi-Family/Student Housing

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Dormitory

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,502 SF

ZONING

U-RM-3

APN/PARCEL ID

146H-B-008

ASK ABOUT THIS PROPERTY

Joe PlevaKW CommercialMore Info
423-667-6204

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Joe PlevaKW CommercialMore Info
423-667-6204

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