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Key Details
Sold Price $2,200,000
Property Type Multi-Family
Sub Type Apartment Complex
Listing Status Sold
Purchase Type For Sale
Subdivision Waring Park Condominium
MLS Listing ID 10048524
Sold Date 03/29/19
Year Built 1966
Annual Tax Amount $18,577
Property Sub-Type Apartment Complex
Property Description
Presented is an amazing value add apartment complex. Current vacancy is around 50% but with minimal rehab vacancy and NOI could increased substantially. Located in the booming Berclair (38122)...this property will not only increase in value but rents could be increased over $100 a unit (there is a solid comp directly across the street). Fully renovated this property will produce annual gross rents of $504,000 with an ARV close to $4,000,000 plus based on recent comps!
Location
State TN
County Maar
Area Berclair
Interior
Heating Central, Wall Heat
Cooling Central, 1 Window Unit per Unit
Flooring Tile, Vinyl Floor, Partial Carpet
Equipment Refrigerator
Laundry Connections, Common Laundry
Exterior
Parking Features Asphalt/Blacktop
Roof Type Composition
Building
Foundation Slab
Water Electrical
Others
Acceptable Financing Other
Listing Terms Other
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Bought with Alexander Hugo • Bingham Realty
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Jaime Ross
Broker | License ID: TN 345300 MS B-23806
Broker License ID: TN 345300 MS B-23806