16-Unit Apartment
7437 Private Lane, Ooltewah, TN 37363
For Sale
$1,700,000
Two buildings offer a mix of one- and two-bedroom units in Ooltewah.
Property Size10,136 SF
Price / SF$167.72
Days on Market57
Property Features for 7437 Private Lane
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Gross Income
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Keller Williams Realty
Listed By:
Jackson Malcolm · License TN #370142
(423) 883-5060
Source:
Robinsonteam
Added: Sep 14
Changed: Nov 7
Last Checked: Nov 8 at 9:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
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Investment Insights
Based on property information with market context.
The 10,136-square-foot property comprises two apartment buildings with 16 units, including a mix of one- and two-bedroom layouts. Built in 1980, the apartments include LVT flooring, fresh paint and washer/dryer hookups; 94% of the units are occupied.
Located in Ooltewah, Tennessee, the property brings its residential units together at one address.
Located in Ooltewah, Tennessee, the property brings its residential units together at one address.
Key Highlights
- 16 apartment units across two buildings
- One- and two‑bedroom unit mix
- 10,136 square feet; built in 1980
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,208
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,564,160
$1.6M
Cap Rate 7%
$1,117,257
$1.1M
Cap Rate 9%
$868,978
$869.0K
Market Conditions
NOI Build-Up for 10,136 SF
Gross rent
$161.8K $15.96/SF
− Vacancy
−$19.6K −$1.93/SF
EGI
$142.2K $14.03/SF
− OpEx
−$64.0K −$6.31/SF
NOI
$78.2K $7.72/SF
Area
Hamilton County, TN
Vacancy
12.10%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,564,160
Cap Rate 7%
$1,117,257
Cap Rate 9%
$868,978
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$977.6K – $1.30M
NOI $78,208 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.68M
$1.47M – $1.96M
NOI $117,823 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
16
Residential units
94%
Occupancy
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 37363, TN
41,120
Population
16,584
Households
2.5
Avg Household Size
41
Median Age
43%
College-Educated
93%
High-School Grad
60.1 sq mi
ZIP Area
684
Density / Sq Mi
$94,873
Median Household Income
$50,180
Median Earnings
$1,495
Median Rent
$349,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two buildings offer a mix of one- and two-bedroom units in Ooltewah.
Where is this apartment building located?
The property is located at 7437 Private Lane Ooltewah, TN.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 16 apartment units across two buildings; One- and two‑bedroom unit mix; 10,136 square feet; built in 1980
