Quad in Downtown Chattanooga

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30631070
Property Subtypes: Duplex/Fourplex
Status: Pending/Contingent
Number of Units: 4 Units
Building Size (RSF): 3,350 SF
Gross Building Area: See Agent
Gross Land Area: 0.22 Acres
Sale Price: $535,000
Unit Price: $133,750 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 9/15/2020

Overview / Comments

Rare find on the McCallie corridor! This is an incredible opportunity to own a fully renovated quad on a corner lot in the heart of downtown Chattanooga. Currently 75% occupied with a GMI of $2,713 & a GAI of $32,556 (which will allow for owner occupancy if desired). 3 of the 4 units feature 1 bedroom & 1 bathroom, while the remaining unit features 2 bedrooms & 1 bathroom. Each have updated kitchens & bathrooms, washer/dryer hookups, appliances (including washer/dryers, refrigerators, dishwashers, oven/ranges and microwaves) new LVL flooring, new light fixtures, new decks, and more. Other improvements to the building include new HVAC, windows, siding, roof, plumbing, water heaters, and electrical. There is private off-street parking in the rear for tenants. Direct access to sidewalks makes this property walkable to Parkridge Hospital & other nearby businesses. Situated just a short drive from UTC, Erlanger, CHI Memorial Hospital, and an abundance of downtown businesses and restaurants. Over the past few years, the surrounding area has seen a constant stream of new developments, businesses, new construction homes & multi family properties. Since a majority of the units are tenant occupied, showings can only be scheduled after a Letter of Intent is accepted by the seller. Call today for more information.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 146K P 008
Zoning: C-2
Percent Occupied: 75%
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1900
Year Renovated: 2020
Construction/Siding: Aluminum Siding, Brick, Vinyl Siding
Parking Type: Surface
Laundry: In Each Unit
Heat Type: Electricity
Heat Source: Central
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Lt 9 & Pt Lt 10 Orchard Knob Sub Pb 1 Pg41

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,560 80,084 148,296
Median Age: 34.52 35.63 36.88
Households: 4,648 32,309 61,896


Photograph of Listing Agent

Grace Frank

Real Estate Partners Chatt LLC Greater Chattanooga REALTORS® Member
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