Calvary Park Apartments 403 Barnhardt Cir 16 Unit Apartment Building $1,945,000 ($121,563/Unit) 7.50% Cap Rate Fort Oglethorpe, GA 30742
INVESTMENT HIGHLIGHTS
- Around 11% rental upside
- Attractive unit mix of large townhome style 2BR units
- 12 out of 16 units are fully renovated
- Strong occupancy and collections
- Close proximity to major grocers and restaurants
- 20 minutes away from downtown Chattanooga
EXECUTIVE SUMMARY
Broker of Record
Bill Pedersen
License No. 80041 (GA)
Bill Pedersen
License No. 80041 (GA)
PROPERTY FACTS
| Price | $1,945,000 |
| Price Per Unit | $121,563 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| Gross Rent Multiplier | 8.11 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.59 AC |
| Building Size | 15,000 SF |
| No. Stories | 2 |
| Year Built | 1989 |
| Parking Ratio | 1.53/1,000 SF |
| Zoning | FOR |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 16 | - | 875 - 1,125 |
1 of 1
PROPERTY TAXES
| Parcel Number | 0003I-031 | Improvements Assessment | $527,771 |
| Land Assessment | $60,000 | Total Assessment | $587,771 |
