403 Barnhardt CirFort Oglethorpe, GA 30742

Property Details for 403 Barnhardt Cir

Year built

1989

Lot size

0.59 AC

Property size (Sq ft)

15,000 SF

Property type

Apartment buildings

Description

This exceptional 16-unit apartment building, known as Calvary Park Apartments, presents a compelling investment opportunity in Fort Oglethorpe, Georgia. Located at 403 Barnhardt Cir, 30742, this multifamily property boasts 15,000 square feet on a 0.59-acre lot and offers a strong 7.50% cap rate at an asking price of $1,945,000 ($130/sq ft and $121,563 per unit). The property features a mix of unit sizes, with eight of the sixteen units having undergone full renovations. All units include washer and dryer connections. Residents enjoy the convenience of nearby grocery stores and restaurants. The property also benefits from ample parking with 23 spaces available. Built in 1989, the building is zoned FOR and is situated in a desirable location, approximately 20 minutes from downtown Chattanooga. The average household income within a one-mile radius is $56,428, indicating a strong tenant base. Current occupancy and collections are strong, with an estimated rental upside potential of around 11%. This property offers a blend of immediate income and significant future growth potential. The attractive unit mix, primarily consisting of larger, townhome-style two-bedroom units, further enhances its appeal to renters.

Location Insight

City

Fort Oglethorpe

County

Catoosa

State

Georgia

Latitude

34.9458

Longitude

-85.2614

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