5307 Hwy 58, Chattanooga, TN 37416 (MLS# 1187900)

5307 Hwy 58, Chattanooga, TN 37416

$1,000,000
Property Type: Residential Income Square Footage: 34,926 Status: Closed
Current Price: $1,000,000 List Date: 12/13/2012 Last Modified: 9/09/2024

Overview

Description

GREAT INVESTMENT OPPORTUNITY! BANK OWNED! ALL OFFERS CONSIDERED! NO WARRANTIES NO REPS ''SOLD AS IS'' COMPLEX BEING MANAGED BY RIVER CITY PROPERTY MANAGEMENT TO RENT UP VACANCIES. PREVIOUS OWNERS LOST A LOT TO TENANTS FROM LACK OF MANAGEMENT AND MAINTENANCE. THE APARTMENT COMPLEX CONSIST OF 24 1 BEDROOM, 1 BATH UNITS, AND 24 2 BEDROOM, 1 BATH. THE BUILDING HAS TWO LEVELS WITH A BREEZEWAY. THE LOWER LEVEL UNITS ALL HAVE PATIOS, UPPER UNITS HAVE BALCONIES. EXTERIOR HAS BEEN PAINTED IN 2011 WITH RUSTIC COLORS TO ENHANCE THE SPANISH DESIGN. THIS IS A GREAT LOCATION CLOSE TO SHOPPING, SCHOOLS, VW, AND ONLY 15 MINUTES TO DOWNTOWN. SOME UNITS HAVE BEEN PARTIALLY RENOVATED WITH NEW CARPET, AND PAINT. SOME OF THE UNITS HAVE APPLIANCES STOVE, REFRIGERATORS, DISHWASHERS, ALL UNITS HAVE WASHER/DRY

Supplements: K-UPS. TWO BEDROOM UNITS HAVE DOUBLE VANITIES IN BATHROOM AREA WITH TUB AND SHOWER COMBO, LIVING ROOM, DINING ROOM, LAUNDRY CLOSET, LINEN CLOSET, COAT CLOSET. MOST 1 BEDROOM UNITS HAVE WINDOW AIR/HEAT (HOTEL STYLE). THERE IS CENTRAL HEAT & AIR IN ALL THE 2 BEDROOM UNITS. 1 BEDROOM UNITS RENTED FROM $450 TO $475, 2 BEDROOMS RENTED FROM $525 TO $550. ...

Listing Details MLS# 1187900

General Property Information

Number Of Units Total
48
Stories
2
Living Area
34926
Year Built
1977
New Construction YN
No
Home Warranty YN
No
Garage YN
No
Attached Garage YN
No
Carport YN
No
Lot Size Dimensions
648X75X52.971
Association YN
No
View YN
No
Waterfront YN
No
Basement YN
Yes
Fireplace YN
No
List Price/SqFt
42.95
Sold Price/SqFt
28.63

Property Features

Basement: Crawl Space Cooling: Central Air; Electric Current Financing: Conventional Heating: Electric Interior Features: Eat-in Kitchen Levels: Two Lot Features: Sloped Parking Features: Off Street Patio And Porch Features: Deck; Patio Possession: Close Of Escrow Roof: Shingle Sewer: Septic Tank Special Listing Conditions: Real Estate Owned Tenant Pays: Electricity; Water Lock Box Type: None

Contract Information

Listing Contract Date
2012-12-13
Property Sub Type
Apartment

Location Tax and Legal

Street Number
5307
Street Name
Hwy 58
County
Hamilton
State
TN
Postal Code
37416
Subdivision Name
None

Remarks and Miscellaneous

Public Remarks
GREAT INVESTMENT OPPORTUNITY! BANK OWNED! ALL OFFERS CONSIDERED! NO WARRANTIES NO REPS ''SOLD AS IS'' COMPLEX BEING MANAGED BY RIVER CITY PROPERTY MANAGEMENT TO RENT UP VACANCIES. PREVIOUS OWNERS LOST A LOT TO TENANTS FROM LACK OF MANAGEMENT AND MAINTENANCE. THE APARTMENT COMPLEX CONSIST OF 24 1 BEDROOM, 1 BATH UNITS, AND 24 2 BEDROOM, 1 BATH. THE BUILDING HAS TWO LEVELS WITH A BREEZEWAY. THE LOWER LEVEL UNITS ALL HAVE PATIOS, UPPER UNITS HAVE BALCONIES. EXTERIOR HAS BEEN PAINTED IN 2011 WITH RUSTIC COLORS TO ENHANCE THE SPANISH DESIGN. THIS IS A GREAT LOCATION CLOSE TO SHOPPING, SCHOOLS, VW, AND ONLY 15 MINUTES TO DOWNTOWN. SOME UNITS HAVE BEEN PARTIALLY RENOVATED WITH NEW CARPET, AND PAINT. SOME OF THE UNITS HAVE APPLIANCES STOVE, REFRIGERATORS, DISHWASHERS, ALL UNITS HAVE WASHER/DRY
Directions
Take Highway 58 complex is on the left

Status Change Information

Major Change Timestamp
2013-04-25T12:02:24Z
Major Change Type
Status Change
Price Change Timestamp
2012-12-13T22:09:05Z
Status Change Timestamp
2013-04-25
Under Contract Date
2013-01-23
Close Date
2013-04-25
Close Price
1000000

More Information

Unit 1

Unit Number
24
Total Full Baths
Yes
Living Room
Yes
Washer Dryer Hookups
Yes

Unit 2

Unit Number
24
Total Full Baths
Yes
Living Room
Yes
Washer Dryer Hookups
Yes

Historical Information

Public Historical Remarks 1
Unit 1 Features: 1 Bath. Unit 2 Features: 1 Bath.

Location, Tax, and Legal

Parcel Number
129EA011
Office Exclusive
No
Elementary School
Harrison Elementary
Middle Or Junior School
Brown Middle
High School
Central High School
Tax Legal Description
Lt Spanish Villa Sub Pb 84 Pg 72 Spanish Villa Units

Basement

Crawl Space
Yes

Lot Features

Sloped
Yes

Possession

Close Of Escrow
Yes

Sewer

Septic Tank
Yes

Special Listing Conditions

Real Estate Owned
Yes

Cooling

Central Air
Yes
Electric
Yes

Parking Features

Off Street
Yes

Tenant Pays

Electricity
Yes
Water
Yes

Current Financing

Conventional
Yes

Levels

Two
Yes

Patio And Porch Features

Deck
Yes
Patio
Yes

Heating

Electric
Yes

Interior Features

Eat-in Kitchen
Yes

Roof

Shingle
Yes

Lock Box Type

None
Yes
Listing Office: Choo Choo Realty
Last Updated: September - 09 - 2024
Information deemed reliable but not guaranteed.