BEVERLY APARTMENTS

4905 Highway 58, Chattanooga, TN 37416
$4,550,000

Cap Rate
6.34%
Price Per SF
$142
Price Per Unit
$92,857
Units
49
Gross SQFT
32,040
Year Built
1984
NOI
$288,469
Property Type
Apartments

INVESTMENT HIGHLIGHTS

  • Over 25% rental upside
  • Stabilized occupancy and collections
  • Significant capital improvements were made to the property
    leaving little to no deferred maintenance for a new owner
  • An additional 2.04 acres of land have already been zoned to add 40 more units
  • In-unit washer & dryer hookups, in-unit attic storage, and fenced in patios
  • On-site office unit & storage shed
  • Location right off Hwy 58 provides great tenant traffic while simultaneously having ideal unit placement far off the highway with plenty of green space and no road noise
  • Property taxes are locked in at the current assessed value for the next 4 years with Hamilton County reassessing every 4 years and the latest reassessment in January 2025

Broker of Record

  • Hutt Cooke
  • License No. 263667 (TN)
  • (866) 889-0550
  • Matthews Real Estate Investment Services, Inc.
  • 1600 West End,
    Ste. 1500 Nashville, TN 37203