3600 Shirl Jo Ln East Ridge, TN 37412
This exceptional 8-unit apartment building, located at 3600 Shirl Jo Ln, East Ridge, TN 37412, presents a compelling investment opportunity. Built in 1975 and extensively renovated in 2024, this two-story, Class B property boasts 8,056 square feet on a 0.64-acre lot. Five of the eight units have undergone complete renovations, featuring modern LVP flooring, fresh paint, new kitchen cabinets, stainless steel appliances, LED bath mirrors, and renewed wood balconies. These upgrades command top-of-market rents. All units are spacious two-bedroom apartments. The property benefits from upgraded plumbing, ample on-site parking, a grill/picnic area, and attractive landscaping. Its convenient location offers easy access to downtown, Hamilton Place mall, and major transportation routes. The property is zoned R-2 and presents potential for further rental income growth through additional renovations or enhancements. This low-maintenance building attracts reliable, long-term tenants, making it an ideal investment for those seeking consistent rental income and future appreciation in a thriving East Ridge location. The asking price is $1,325,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
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Risks
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