Historical Multifamily Sale Listing - Pinewood Trace

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Pinewood Trace

3301 Pinewood Avenue, Chattanooga, TN 37411

N/A

56 Units | Multifamily

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Pinewoodtrace

Multifamily Property - Off Market

Price:
N/A
No. Units:
56
Building Size:
50,400 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Distressed:
Yes
Cap Rate:
10.11%
Gross Rent Multiplier:
2.52
Lot Size:
5.10 AC
Listing ID
17329862
Last Updated
over 1 year ago

Description

The Pinewood Trace Apartments were built in 1967 and renovated in 1999. There are a total of 56 units which are all 2 Bedroom 1 Bath style floorplans of around 900 Square Feet.The units are all electric and equipped with seperate hot water heaters and tenants are responsible for all utilities. Unit amenities include hardwood floors in select units, window A/C units, and separate dining areas. There is also a laundry facility on site that includes five washers and dryers.

Pinewood Trace is a 56-unit multifamily property located on Pinewood Avenue in Chattanooga, TN. The property is well located just three miles from downtown Chattanooga and one mile from the McCallie School for Boys, which is one of the top 25 boarding/day schools nationwide. The City of Chattanooga sits right along the southern border of Tennessee near the Georgia state line and is home to an estimated 167,674 citizens, making it the fourth largest city in the state.
Chattanooga lies at the transition between the ridge-and-valley portion of the Appalachian Mountains and the Cumberland Plateau. The city is therefore surrounded by various mountains and ridges, as well as the Tennessee River.

Map of 3301 Pinewood Avenue, Chattanooga, TN 37411 (Hamilton County)

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