4405 Delashmitt Rd, Hixson, TN 37343

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Mark W H.

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Building Details:

• Year Built: 1973

4405 Delashmitt Rd is amulti-family property for lease in Hixson, TN.

Nice apartment complex with 4 buildings. There are 27 apartments (18-2 Bedroom and 9-1 bedroom. All units have been updated in the last 5 years. Most windows have been replaced. Roofs have been replaced so there is no deferred maintenance at the present time. 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 is $156,600. Annual taxes are 17,008, annual insurance is about $6,500. Water is about $700/month. Annual Management fee is $6,264. Cap Rate of 10 is based on 6% vacancy rate and $5,000 annual maintenance.

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