Triplex with Covered
For Sale
$350,000
4100 South Terrace, Chattanooga, TN 37412
Residential Income, Chattanooga, TN
Property Size2,940 SF
Lot Size0.48 Acres
Price / SF$119.05
Days on Market14
Property Features for 4100 South Terrace
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 5, Bathroom 3, Basement, Bedroom 4, Dining Room
Parking features
Off Street, Parking Lot, Garage
Window features
Storm Window(s), Blinds, Aluminum Frames, Wood Frames
Patio and Porch features
Porch
Interior features
Chandelier, Crown Molding, High Ceilings, Plumbed, Separate Dining Room, Storage, Tub/shower Combo
Exterior features
Private Entrance, Rain Gutters
Fireplace
1
Basement
Partially Finished
Appliances
Water Heater, Refrigerator, Free-Standing Refrigerator, Electric Range, Dishwasher
Subdivision
Brookfield
Lot features
Back Yard, Few Trees, Front Yard, Gentle Sloping, Level, Rectangular Lot
Elementary school
East Ridge Elementary
Middle school
East Ridge Middle
High school
East Ridge High
Directions
From Ringgold Rd. turn onto Germantown Rd.. Go about 1.5 miles, turn & turn right at the light on S. Terrace. Go through the next light which is Belvoir Ave. Property is just down the street on the right.
Standard status
Active
APN
157p P 006
Size
2,940 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Description
Se 1/4 Sec 30 Twp 6 N 25 R-4
Tax Annual Amount
3611
Legal Description
Se 1/4 Sec 30 Twp 6 N 25 R-4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
woodburning fireplaces
covered front porches
enclosed back porches
paved parking lot
grass backyard
Building Details
Year built
1941
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Linoleum, Carpet, Vinyl
Building materials
Block, Brick, Concrete, Wood Siding
Roof type
Shingle, Asphalt
Additional Structures
Storage
Listing Agency:
Real Estate Partners Chattanooga LLC
(423) 265-0088
Listed By:
Gil Patton · License #022287
(423) 667-6822
Added: Sep 24
Changed: Sep 27
Last Checked: Oct 7 at 4:06AM
MLS# 1543322
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.
This 2,940-square-foot triplex sits on a 0.48-acre parcel. Upper-level units have tall ceilings, spacious living areas, separate dining rooms and wood-burning fireplaces. Bathrooms have received partial updates, and kitchen appliances are included. Interior finishes include hardwood, carpet, vinyl and linoleum, with built-in storage and display features throughout. The property also has covered front and enclosed rear porches.
A paved parking area is located behind the building, along with a grass backyard. Public water and sewer serve the property. The sale is as-is, with no seller repairs.
A paved parking area is located behind the building, along with a grass backyard. Public water and sewer serve the property. The sale is as-is, with no seller repairs.
Key Highlights
- Triplex totaling 2,940 square feet
- 0.48‑acre parcel
- Upper‑level units have separate dining rooms and wood‑burning fireplaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,863
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,260
$577.3K
Cap Rate 7%
$412,329
$412.3K
Cap Rate 9%
$320,700
$320.7K
Market Conditions
NOI Build-Up for 2,940 SF
Gross rent
$44.1K $15.00/SF
− Vacancy
−$2.9K −$0.98/SF
EGI
$41.2K $14.03/SF
− OpEx
−$12.4K −$4.21/SF
NOI
$28.9K $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%
$577,260
Cap Rate 7%
$412,329
Cap Rate 9%
$320,700
Alternative Uses
Best Use
Multifamily LT 5
$412.3K
$360.8K – $481.1K
NOI $28,863 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$370.0K
$323.8K – $431.7K
NOI $25,900 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$649.3K
$568.2K – $757.5K
NOI $45,452 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 37412, TN
21,881
Population
10,305
Households
2.1
Avg Household Size
39
Median Age
23%
College-Educated
86%
High-School Grad
8.7 sq mi
ZIP Area
2,515
Density / Sq Mi
$56,600
Median Household Income
$37,858
Median Earnings
$1,120
Median Rent
$182,600
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
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Frequently Asked Questions
What type of property is this?
Triplex - The upper residences include formal dining rooms, fireplaces and tall ceilings.
Where is this triplex located?
The property is located at 4100 South Terrace Chattanooga, TN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Triplex totaling 2,940 square feet; 0.48‑acre parcel; Upper‑level units have separate dining rooms and wood‑burning fireplaces
