Four-Unit Townhome
For Sale
$998,000
1502 E 13th Street, Chattanooga, TN 37404
Residential Income, Chattanooga, TN
Property Size4,880 SF
Lot Size0.30 Acres
Price / SF$204.51
Days on Market30
Property Features for 1502 E 13th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 6, Bathroom 8, Bedroom 3, Bedroom 5, Bedroom 8, Bedroom 6, Bathroom 5, Bathroom 1, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 7, Bathroom 7, Bedroom 4
Parking features
Off Street
Spa
1
Window features
ENERGY STAR Qualified WIndows, Vinyl Frames
Patio and Porch features
Porch
Pets allowed
Yes
Interior features
Eat-in Kitchen, High Speed Internet, Kitchen Island, Open Floorplan, Recessed Lighting, Tub/shower Combo
Exterior features
Courtyard, Lighting
Fencing
Chain Link
Appliances
Washer/Dryer Stacked, Washer/Dryer, Microwave, Free-Standing Electric Oven, Electric Water Heater, Electric Oven, Disposal, Dishwasher
Subdivision
Fort & Porter Addn
Lot features
Back Yard, City Lot, Front Yard, Level
Elementary school
East Side Elementary
Middle school
Orchard Knob Middle
High school
Howard School of Academics & Tech
Standard status
Active
Size
4,880 SF
Lot size
0.30 Acres
Additional Details
Tenant in Place
Yes
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2022
Number of units
4
Flooring type
Hardwood, Vinyl, Carpet
Building materials
Block, Cement Siding, Wood Siding
Roof type
Shingle
Architectural style
Contemporary
Listing Agency:
Zach Taylor - Chattanooga
(855) 261-2233
Listed By:
Grace Frank · License #305329
(423) 208-3834
Added: Oct 1
Changed: Oct 29
Last Checked: Oct 30 at 2:06AM
MLS# 1543721
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.
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Investment Insights
Based on property information with market context.
This Chattanooga quadplex contains four townhomes totaling 4,880 square feet on a 0.3-acre parcel. Built in 2022, the buildings are fully occupied, with each residence measuring approximately 1,220 square feet. Dedicated off-street parking serves each townhome, and the site includes alley access, a sprinkler system at the rear of the building, and underground stormwater management.
The property is near downtown Chattanooga, Highland Park, the Main Street district, UTC, and major medical centers. Most tenant agreements run for one year; Unit 112 is leased month-to-month.
The property is near downtown Chattanooga, Highland Park, the Main Street district, UTC, and major medical centers. Most tenant agreements run for one year; Unit 112 is leased month-to-month.
Key Highlights
- Four leased townhomes with 4,880 square feet combined
- Built in 2022 on a 0.3‑acre parcel
- Each townhome has approximately 1,220 square feet
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Completed in 2022, the property includes off-street parking and alley access.
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 with 4,880 square feet combined; Built in 2022 on a 0.3‑acre parcel; Each townhome has approximately 1,220 square feet
