Four-Unit Multifamily
916/920 Glenwood Drive, Chattanooga, TN 37406
For Sale
$965,000
Two adjacent multifamily properties combine existing residential units with a larger space requiring renovation.
Property Size7,160 SF
Days on Market165
Property Features for 916/920 Glenwood Drive
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Asking Price
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Keller Williams Realty
Listed By:
Asher Black · License TN #359562
(423) 208-4943
Source:
Gracefrankgroup
Added: May 29
Changed: Nov 7
Last Checked: Nov 8 at 2:40PM
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 Keller Williams Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The offering includes two adjacent multifamily properties at 916 and 920 Glenwood Drive. The 916 property contains a four-unit building, while 920 includes one finished unit and an additional 2,000-square-foot unit with eight bedrooms and two bathrooms that requires renovation.
The properties are located in Chattanooga, Tennessee, and were built in 1993. Together, the buildings provide a combination of finished residential space and a substantial renovation component within one offering.
The properties are located in Chattanooga, Tennessee, and were built in 1993. Together, the buildings provide a combination of finished residential space and a substantial renovation component within one offering.
Key Highlights
- Two adjacent multifamily properties at 916 and 920 Glenwood Drive
- 916 includes a four‑unit multifamily building
- 920 includes one finished residential unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,077
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,261,540
$1.3M
Cap Rate 7%
$901,100
$901.1K
Cap Rate 9%
$700,856
$700.9K
Market Conditions
NOI Build-Up for 7,160 SF
Gross rent
$122.0K $17.04/SF
− Vacancy
−$7.3K −$1.02/SF
EGI
$114.7K $16.02/SF
− OpEx
−$51.6K −$7.21/SF
NOI
$63.1K $8.81/SF
Area
Chattanooga, TN
Vacancy
6.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,261,540
Cap Rate 7%
$901,100
Cap Rate 9%
$700,856
Alternative Uses
Best Use
Apartment 5plus
$901.1K
$788.5K – $1.05M
NOI $63,077 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,692 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,020
Businesses Nearby
Explore this area
Business Placement
Demographics for 37406, TN
12,422
Population
5,894
Households
2.1
Avg Household Size
36
Median Age
16%
College-Educated
85%
High-School Grad
12.1 sq mi
ZIP Area
1,027
Density / Sq Mi
$42,993
Median Household Income
$31,076
Median Earnings
$944
Median Rent
$150,300
Median Home Value
Market
Average Price Trend$/SF for Multifamily properties in Chattanooga, TN
Properties on Market for Multifamily properties in Chattanooga
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two adjacent multifamily properties combine existing residential units with a larger space requiring renovation.
Where is this multifamily property located?
The property is located at 916/920 Glenwood Drive Chattanooga, TN.
What is the asking price?
The asking price for this property is $965,000.
What are key features of this property?
This property features: Two adjacent multifamily properties at 916 and 920 Glenwood Drive; 916 includes a four‑unit multifamily building; 920 includes one finished residential unit
