Three-Unit Ranch
For Sale
$447,000
Pending
117 Valley View Avenue, Chattanooga, TN 37415
Residential Income, Chattanooga, TN
Property Size2,292 SF
Lot Size0.51 Acres
Days on Market51
Property Features for 117 Valley View Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Basement, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 2
Parking features
Driveway, Off Street
Basement
Finished, Full
Appliances
Washer, Refrigerator, Electric Range, Electric Oven, Dryer, Dishwasher
Subdivision
Valley View
Lot features
Back Yard, Front Yard, Gentle Sloping, Private
Elementary school
Alpine Crest Elementary
Middle school
Red Bank Middle
High school
Red Bank High School
Standard status
Pending
APN
109g G 022
Size
2,292 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Description
Lot 7 Valley View Pb 9 Pg 15
Tax Annual Amount
4236
Legal Description
Lot 7 Valley View Pb 9 Pg 15
Utilities
Sewer type
Public Sewer
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1955
Floors in Building
2
Number of units
3
Building materials
Brick, Vinyl Siding
Roof type
Shingle, Asphalt
Architectural style
Ranch
Listing Agency:
Fletcher Bright Realty
(423) 752-0188
Listed By:
Carson Haselwander · License #354788
(423) 693-4470
Added: Aug 24
Changed: Oct 8
Last Checked: Oct 13 at 11:06PM
MLS# 1541536
Copyright © 2026 Greater Chattanooga Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1955, this ranch-style triplex contains 2,292 square feet arranged across three residential units. Each unit includes two bedrooms, one full bathroom, a kitchen, and a living room, with refrigerators and stoves provided. The property also includes an unfinished basement for storage, electric baseboard heat, wall-unit cooling, a shingle roof, public water, and public sewer. Brick and vinyl siding complete the exterior, while driveway and off-street parking serve the units.
The property is located at 117 Valley View Avenue in Chattanooga, Tennessee, less than 15 minutes from downtown Chattanooga and near shopping, dining, and everyday amenities. Unit A is occupied under a month-to-month lease, creating an existing rental arrangement for the next owner.
The property is located at 117 Valley View Avenue in Chattanooga, Tennessee, less than 15 minutes from downtown Chattanooga and near shopping, dining, and everyday amenities. Unit A is occupied under a month-to-month lease, creating an existing rental arrangement for the next owner.
Key Highlights
- Three‑unit triplex with 2,292 square feet across the property
- Each unit includes 2 bedrooms, 1 full bath, a kitchen, and living room
- Built in 1955 with brick and vinyl siding
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,502
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$450,040
$450.0K
Cap Rate 7%
$321,457
$321.5K
Cap Rate 9%
$250,022
$250.0K
Market Conditions
NOI Build-Up for 2,292 SF
Gross rent
$34.4K $15.00/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$32.1K $14.03/SF
− OpEx
−$9.6K −$4.21/SF
NOI
$22.5K $9.82/SF
Area
Chattanooga, TN
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$450,040
Cap Rate 7%
$321,457
Cap Rate 9%
$250,022
Alternative Uses
Best Use
Multifamily LT 5
$321.5K
$281.3K – $375.0K
NOI $22,502 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$288.5K
$252.4K – $336.5K
NOI $20,192 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$506.2K
$442.9K – $590.6K
NOI $35,434 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Explore this area
Business Placement
Demographics for 37415, TN
23,580
Population
11,970
Households
2
Avg Household Size
38
Median Age
45%
College-Educated
95%
High-School Grad
17.5 sq mi
ZIP Area
1,347
Density / Sq Mi
$67,027
Median Household Income
$42,933
Median Earnings
$1,240
Median Rent
$261,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - 1955 ranch-style triplex with individual kitchens, living rooms, off-street parking, and an unfinished basement.
Where is this triplex located?
The property is located at 117 Valley View Avenue Chattanooga, TN.
What is the asking price?
The asking price for this property is $447,000.
What are key features of this property?
This property features: Three‑unit triplex with 2,292 square feet across the property; Each unit includes 2 bedrooms, 1 full bath, a kitchen, and living room; Built in 1955 with brick and vinyl siding
