4405 Delashmitt Rd, Hixson, TN 37343

4405 Delashmitt Rd, Hixson, TN 37343

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Commercial property for sale

• Description
• Nice apartment complex with 4 buildings. There are 27 apartments (18-2 Bedroom and 9-1 bedroom. Most units have been updated in the last 5 years. Most windows have been replaced. Minor cosmetic exterior work is needed on 2 rear buildings. Other 2 buildings are in excellent condition. Roofs have been replaced. Roof facades need replacement. The owner will provide an allowance for this work. The 18-2 bedroom apartments have 1.5 baths. Current rent is $500/month. The 8-1 bedroom apartments have 1.5 baths. 1-1 bedroom apartment has 1 bath. Current rent is $450/month. All apartments have a $300 deposit on file and each tenant has a 1-year lease. Excellent location near business area in Hixson. Gross annual income for 2011 was $128,000. Gross annual income for 2010 was $119,000. Annual taxes are 17,008, annual insurance is about $6,500. Water is about $700/month. Annual Management fee is $6,264. There have been from 0-4 vacancies in the last year. On average there have been between 1-2 vacancies. A Cap Rate of 9.5 is based on 6% vacancy rate and $5,000 annual maintenance. Building price details: $995,000.
• Exterior Features

• Parking Type:

  Surface

• Map Locations
• Contact info
• Joseph M Pleva

  423-664-1550 [Office]

  KW Commercial
• Note

• Details Info about this row that located on 4405 Delashmitt Rd, Hixson, TN 37343 was got from trusty sources, but HousesForSaleList.com can't guarantee that details about listing price, status, facts, images and owner are correct, because this listing can be changed or removed from market without notice. If You need to receive additional details about this property try to ask directly listing agent or owned.

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