621 Fortwood PL Pending Save Request In-Person Tour Request Virtual Tour
Chattanooga,TN 37403
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Pending
Purchase Type For Sale
Square Footage 4,207 sqft
Price per Sqft $202
Subdivision Fort Wood
MLS Listing ID 1507504
Year Built 1920
Lot Size 1,742 Sqft
Property Sub-Type Quadruplex
Property Description
**INVESTORS & 1031 EXCHANGE BUYERS** Fully leased + fully renovated Quadplex located in the coveted Fort Wood Historic District of Downtown Chattanooga, immediately adjacent to the University of Chattanooga at Tennessee (4 min walk!) & just south of Erlanger Hospital (0.5 mile!), a dream for an investor looking for turnkey Day 1 cash flow & an asset beautifully positioned to capture all the growth upside of the Chattanooga market for years to come.
Low maintenance after FULL RENOVATION in 2022; everything is less than 3 years old: this meticulous reno included a new roof, 4 new HVACs, 4 new water heaters, 4 brand new kitchens w/ quartz counters & stainless appliances (dishwasher, fridge, stove & microwave in every unit), 4 full gut bathroom renos w/ custom tile & timeless accents, recessed LED lighting & in-unit/on-site laundry. This spectacular property boasts original historic features, flawlessly maintained: exposed brick, beautifully refinished red oak hardwood floors, multiple fireplaces, stained glass windows, bay windows w/ window seats & a covered front porch.
Owners invested in a LED-cured sewer liner to the city connection in 2023, virtually eliminating the risk of plumbing/sewer backups.
The incredibly efficient lot has little-to-no landscaping costs.
$5,640 gross monthly rents (nearly $68,000 annually) to 4 tenants on long term leases on Day 1! Wonderful property management in place comes highly recommended & allows for a seamless transition with tenant relations (inquire with listing agent). EASY
Properties like this never come up for sale in Fort Wood. Do not miss your opportunity to own this income-producing gem right next to a fast-growing UTC campus (4-5% YOY growth) and booming Downtown Chattanooga.
Location
State TN
County Hamilton
Area 0.04
Interior
Heating Central,Electric,Natural Gas,Separate Meters
Cooling Central Air,Electric
Flooring Hardwood,Tile
Fireplaces Number 2
Fireplaces Type Basement,Bedroom
Laundry In Unit,Multiple Locations
Exterior
Exterior Feature Awning(s),Private Entrance
Parking Features On Street
Garage Description On Street
Community Features Historic District,Sidewalks
Utilities Available Electricity Available,Natural Gas Available,Water Available
Roof Type Composition
Building
Story Three Or More
Sewer Public Sewer
Water Public
Structure Type Brick,Stucco
Schools
Elementary Schools Brown Academy
Middle Schools Orchard Knob Middle
High Schools Howard School Of Academics & Tech
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional