Furnished Quadplex with Mountain
For Sale
$929,000
549 S Crest Rd, Chattanooga, TN 37404
Four furnished units include full kitchens, laundry appliances, and spacious living and dining areas.
Property Size3,217 SF
Price / SF$288.78
Days on Market55
Property Features for 549 S Crest Rd
General Information
Standard status
Active
Size
3,217 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 1BR, 1 x 2BR
Multifamily Units
4
Additional Details
Furnished
Yes
Amenities
washer/dryer
dishwasher
refrigerator
Building Details
Year Built
1921
Listing Agency:
RE/MAX Properties
Listed By:
Adrienne Gremore · License #346069
(423) 774-8344
Source:
Grayfoxrealty
Added: Aug 14
Changed: Oct 3
Last Checked: Oct 7 at 2:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Properties
Investment Insights
Based on property information with market context.
This 4420 SF quadplex contains three 1-bedroom units and one 2-bedroom unit currently configured and operating as a 3-bedroom. The furnished property includes full kitchens, living and dining areas, washers and dryers, dishwashers, and refrigerators in each unit. Prefinished hardwood floors, abundant natural light, and original architectural character are complemented by tasteful updates. The units are professionally maintained and in excellent overall condition.
Located at 549 S Crest Rd in Chattanooga, the property sits atop historic Missionary Ridge with views toward downtown Chattanooga and Lookout Mountain. It has been operated as Furnished Finder rentals, providing an established furnished rental format. Cosmetic kitchen updates remain an option for an owner seeking to modify the interiors while continuing the current rental approach.
Located at 549 S Crest Rd in Chattanooga, the property sits atop historic Missionary Ridge with views toward downtown Chattanooga and Lookout Mountain. It has been operated as Furnished Finder rentals, providing an established furnished rental format. Cosmetic kitchen updates remain an option for an owner seeking to modify the interiors while continuing the current rental approach.
Key Highlights
- 4420 SF quadplex with four furnished units
- Unit mix includes three 1‑bedroom units and one 2‑bedroom unit operating as a 3‑bedroom
- Each unit has a full kitchen, washer/dryer, dishwasher, and refrigerator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,583
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$631,660
$631.7K
Cap Rate 7%
$451,186
$451.2K
Cap Rate 9%
$350,922
$350.9K
Market Conditions
NOI Build-Up for 3,217 SF
Gross rent
$48.3K $15.00/SF
− Vacancy
−$3.1K −$0.98/SF
EGI
$45.1K $14.03/SF
− OpEx
−$13.5K −$4.21/SF
NOI
$31.6K $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%
$631,660
Cap Rate 7%
$451,186
Cap Rate 9%
$350,922
Alternative Uses
Best Use
Multifamily LT 5
$451.2K
$394.8K – $526.4K
NOI $31,583 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$404.9K
$354.3K – $472.4K
NOI $28,341 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$710.5K
$621.7K – $828.9K
NOI $49,734 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
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Business Placement
Demographics for 37404, TN
13,106
Population
5,887
Households
2.2
Avg Household Size
34
Median Age
32%
College-Educated
86%
High-School Grad
5.2 sq mi
ZIP Area
2,520
Density / Sq Mi
$53,585
Median Household Income
$35,983
Median Earnings
$999
Median Rent
$235,300
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?
Quadplex - Four furnished units include full kitchens, laundry appliances, and spacious living and dining areas.
Where is this quadplex located?
The property is located at 549 S Crest Rd Chattanooga, TN.
What is the asking price?
The asking price for this property is $929,000.
What are key features of this property?
This property features: 4420 SF quadplex with four furnished units; Unit mix includes three 1‑bedroom units and one 2‑bedroom unit operating as a 3‑bedroom; Each unit has a full kitchen, washer/dryer, dishwasher, and refrigerator
