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Map
$904,333*
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Multifamily -
Off Market
3117 Ellis Ave
Chattanooga, TN 37412
6 Beds
4 Baths
7824 Sqft
$581,000 - $709,000
Reference Base Price*
40.21%
Since Jul 1, 2020
National-US
Primary Model
About This Property
Incredible investment opportunity located just minutes from
downtown Chattanooga! These 7 units are comprised of a mid-century
modern duplex, a quadruplex, and an A-frame single family home that
if desired, could easily be modified into a duplex. All buildings
feature new roofs, wiring, and plumbing, and 6 of the 7 units
included updated kitchens and bathrooms; the 7th unit has not been
renovated due to long-term occupancy. Current GMI of $5,900 and
100% occupied. Located in an easily rentable area, the properties
are close to interstate access and just minutes from the shopping,
dining, entertainment, and major businesses/employers in downtown
Chattanooga. Proximity & visibility from the interstate (I-24) also
make the unused land/yard an excellent location for a billboard.
This setup is ideal for savvy investors or retirees who want tenant
cash flow to pay their mortgage. The single-family A-frame could be
used as a personal home (instead of a rental) while the 6 remaining
units (which are in no need of rehab work) bring in positive cash
flow. Acceptable Letter of Intent is required to view
properties.
The manager has listed the unit size as 7824 square feet.
The manager has listed the unit size as 7824 square feet.
Unit Size
7,824Ft²
Days on Market
-
Land Size
1.50 acres
Price per sqft
$82
Property Type
Multifamily
Property Taxes
$4,571
HOA Dues
-
Year Built
1964
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Aug 27, 2020 | Sold to Terri Belknap | $630,000 | |
Sold to Terri Belknap | |||
Jun 5, 2020 | No longer available | - | |
No longer available | |||
May 29, 2020 | Listed | $645,000 | |
Listed |
Property Highlights
Air Conditioning
Parking Available
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
05/29/2020
|
|
6 Bed
|
4 Bath
|
7824 ft²
|
$645,000
6 Bed
4 Bath
7824 ft²
|
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