5640 Highway 41 - Apartments FOR SALE


Jasper, TN 37347
$1,210,000 USD
423-280-1001
5640 Highway 41, Jasper, TN for Sale
$1,210,000 USD
Apartments - FOR SALE
1/19
null | 8.52% Cap Rate

5640 Highway 41
Jasper, TN 37347


OVERVIEW

8.5% Cap. Originally built as a hotel, this 14 Unit Apartment Rental, has been expertly refurbished.  Tons of charm and only 17 miles or 27 minutes to Chattanooga.  Excellent for Chattanooga, Monteagle, Sequatchie Valley workforce needs.  Great for the outdoor enthusiast, who would work in Chattanooga during the week and would want to enjoy the outdoors on the weekend.  Walking distance to the Sequatchie River’s canoeing and Kayaking.  Only minutes to Nickajack Lake and it’s award-winning Bass fishing and water sports.  Bring your ski-boat and make a day of it on the lake!  Nearby Monteagle gives you tons of Hiking Opportunities, such as the Fiery Gizzard Trail.  This 14 Unit Rental is perfectly located to fulfill part of the growing need for workforce housing in a very tight housing market in the area.    Owner financing will be considered. Great candidate for STR.

FOR SALE DETAILS

PRICE

$1,210,000 USD

PRICE/SF

$158 USD /SF

# OF UNITS

1

PRICE/UNIT

$1,210,000

CAP RATE

8.52%

% LEASED

79%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

14 Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1952

PARKING SPACES

24

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

C2

APN/PARCEL ID

120-013.05

ASK ABOUT THIS PROPERTY

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423-280-1001

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423-280-1001

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