Multi-family Unit in Chattanooga, TN!!

[William Allen]

We are selling our assignable purchase contract on the property below.

5 Units
2154 Sq Ft
.26 acres
Built in 1940

MARKET RENTAL RATE is $2,815 per month



Was = $99K OBO

NEW WHOLESALE PRICE = $80K OBO

Realtors, add your fee (whatever you like) and bring us a buyer!

Unique multi family property with a total of 5 units. All 5 units are rented out and all tenants have been there for over 5 years. Roof was replaced 5 years ago. Siding and windows are both fairly new as well. This property generates just under $3K per month in rent!

The inside of the property could use some cosmetic repairs depending on the buyer.

Here is the info about the rents for each unit and the pay schedule for each unit:

Apartment 1 - $310 every two weeks ($8,060 per year)
Apartment 2 - $560 per month ($6720 per year)
Apartment 3 (Upstairs) - $160 per week ($8,320 per year)
Room 1 - $100 per week ($5,200 per year)
Room 2 - $457 per month (5,484 per year)
Total Monthly Income - $2,815

The owner is currently paying the Insurance, Taxes and Utilities. Here is a breakdown of those expenses (these are from last month)...

Electric - $261
Water/Sewer - $100
Cable - $150
Gas - $10
Insurance - $150 per month
Taxes (County & City) - $189 per month ($2,268 per year)
Total Monthly Expenses - $860

This property is occupied so please do not disturb the tenants. Contact us to schedule a showing.

To submit an offer contact Ryan Smith to obtain our contract package, 850-400-3570 or [email protected]