Four-Unit Townhome
1502 E 13th Street, Chattanooga, TN 37404
For Sale
$998,000
Four townhomes are leased, with dedicated parking and a mix of one-year and month-to-month tenancy.
Property Size4,880 SF
Price / SF$204.51
Days on Market38
Property Features for 1502 E 13th Street
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Additional Details
Gross Income
Sprinkler System
Multifamily Units
Tenant in Place
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Zach Taylor - Chattanooga
Listed By:
Grace Frank · License #305329
(423) 208-3834
Source:
Robinsonteam
Added: Oct 1
Changed: Nov 5
Last Checked: Nov 6 at 9:44AM
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 Zach Taylor - Chattanooga
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Investment Insights
Based on property information with market context.
Built in 2022, this quadplex contains four leased townhomes totaling approximately 4,880 square feet, with each home measuring approximately 1,220 square feet. Most tenants have one-year leases; Unit 112 is leased month-to-month. Dedicated parking serves each townhome, and the property also has alley access, a sprinkler system at the rear of the building, and underground stormwater management.
The property is at 1502 E 13th Street in Chattanooga, near downtown, Highland Park, the Main Street district, UTC, and major medical centers.
The property is at 1502 E 13th Street in Chattanooga, near downtown, Highland Park, the Main Street district, UTC, and major medical centers.
Key Highlights
- Four leased townhomes totaling approximately 4,880 square feet
- Each townhome measures approximately 1,220 square feet
- Built in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,909
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$958,180
$958.2K
Cap Rate 7%
$684,414
$684.4K
Cap Rate 9%
$532,322
$532.3K
Market Conditions
NOI Build-Up for 4,880 SF
Gross rent
$73.2K $15.00/SF
− Vacancy
−$4.8K −$0.98/SF
EGI
$68.4K $14.03/SF
− OpEx
−$20.5K −$4.21/SF
NOI
$47.9K $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%
$958,180
Cap Rate 7%
$684,414
Cap Rate 9%
$532,322
Alternative Uses
Best Use
Multifamily LT 5
$684.4K
$598.9K – $798.5K
NOI $47,909 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$614.2K
$537.4K – $716.5K
NOI $42,991 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$1.08M
$943.1K – $1.26M
NOI $75,444 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four townhomes are leased, with dedicated parking and a mix of one-year and month-to-month tenancy.
Where is this quadplex located?
The property is located at 1502 E 13th Street Chattanooga, TN.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Four leased townhomes totaling approximately 4,880 square feet; Each townhome measures approximately 1,220 square feet; Built in 2022
