1601 Mitchell Ave

    Chattanooga, TN 37408
    • $769,500
    • STATUS: Active
    • ON SITE: 48 days
    • MLS #: 1305759
    UPDATED: 29 min ago
    $769,500
    • 0
      BEDS
    • 0.11
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,000
      SQFT
    • $154
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1997
    County:
    Area:

    School Information

    Elementary School:
    Middle School:

    Description

    Fully leased quad in Southside Chattanooga. One block from Main Street. Adjacent to $500k+ townhomes and multi-million dollar renovation of the historic YMCA building. Each 3 bedroom unit is leased at $1,275 per month. Value add opportunity if updated as limited 3 bedroom supply in market. Priced at a 6.25% as-is cap rate. Ft. Negley now has a parking permit system which frees up parking in the neighborhood for tenant/owner use only. Could make a great long term rental, student housing, or Short Term Vacation Rental. Within the Urban Overlay, thus eligible for Short Term Vacation Rental permits (subject to review and approval by the city of Chattanooga). Short Term Vacation Rental market analysis attached (AirDNA report indicates revenue potential of $40,439 per 3 bedroom unit

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    © 2019 Chattanooga Association of REALTORS®. INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. The site does not contain all listings available through the MLS. Grace Frank Group | Real Estate Partners Chattanooga does not display the entire MLS of Chattanooga, Inc. database on this website. The listings of some real estate brokerage firms have been excluded. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or Grace Frank Group | Real Estate Partners Chattanooga. This site was last updated on 2019-10-16T17:08:48.923.
    www.gracefrankgroup.com/homes/98430821

    1601 Mitchell Ave Chattanooga, TN 37408

    • Price: $769,500
    • Status: Active
    • Updated: 29 min ago
    • MLS #: 1305759
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.11
    Acres
    5,000
    SQFT
    $154
    $/SQFT
    1997
    Built
    Neighborhood:
    Fort Negley Addn
    County:
    Hamilton
    Area:
    Chattanooga
    Elementary School:
    Battle Academy
    Middle School:
    Orchard Knob Middle
    High School:
    Howard School Of Academics & Tech
    Property Description
    Fully leased quad in Southside Chattanooga. One block from Main Street. Adjacent to $500k+ townhomes and multi-million dollar renovation of the historic YMCA building. Each 3 bedroom unit is leased at $1,275 per month. Value add opportunity if updated as limited 3 bedroom supply in market. Priced at a 6.25% as-is cap rate. Ft. Negley now has a parking permit system which frees up parking in the neighborhood for tenant/owner use only. Could make a great long term rental, student housing, or Short Term Vacation Rental. Within the Urban Overlay, thus eligible for Short Term Vacation Rental permits (subject to review and approval by the city of Chattanooga). Short Term Vacation Rental market analysis attached (AirDNA report indicates revenue potential of $40,439 per 3 bedroom unit
    Exterior Features

    Exterior Partial BrickSiding Garage Parking None Lot Description Level Lot Size Dimensions 44X125 Roof Shingle

    Interior Features

    Basement Slab Cooling Central Description 2 Level Heating Electric Unit Four Bedrooms 3 Unit Four Features 1.5 Baths3 BedroomsDining/Living ComboKitchenLaundry HookupOven/RangeRefrigerator Unit Four Full Baths 1 Unit Four Half Baths 1 Unit One Bedrooms 3 Unit One Features 1.5 Baths3 BedroomsDining/Living ComboKitchenLaundry HookupOven/RangeRefrigerator Unit One Full Baths 1 Unit One Half Baths 1 Unit Three Bedrooms 3 Unit Three Features 1.5 Baths3 BedroomsDining/Living ComboKitchenLaundry HookupOven/RangeRefrigerator Unit Three Full Baths 1 Unit Three Half Baths 1 Unit Two Bedrooms 3 Unit Two Features 1.5 Baths3 BedroomsDining/Living ComboKitchenLaundry HookupOven/RangeRefrigerator Unit Two Full Baths 1 Unit Two Half Baths 1

    Property Features

    Community Features None Existing Financing Private Financing CashConventional Gross Monthly Rent 5100.00 Home Warranty No Owner Pays None Possession Day Of Closing Property Sub Type Quad Taxes 7922.00 Tenant Pays All Type Of Sale Investor Unit Four Unit Number D Unit One Unit Number A Unit Three Unit Number C Unit Two Unit Number B Water Sewer Public Water

    Listing information © 2019 The Multiple Listing Service of Chattanooga, Inc.
    Listing courtesy of Uptown Firm, Llc.



    © 2019 Chattanooga Association of REALTORS®. INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. The site does not contain all listings available through the MLS. Grace Frank Group | Real Estate Partners Chattanooga does not display the entire MLS of Chattanooga, Inc. database on this website. The listings of some real estate brokerage firms have been excluded. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or Grace Frank Group | Real Estate Partners Chattanooga. This site was last updated on 2019-10-16T17:08:48.923.
     
    Grace Frank Group | Real Estate Partners Chattanooga
    525 W Main Street
    Chattanooga TN, 37402