Multifamily Property with Renovation
For Sale
$965,000
916-920 Glenwood Drive, Chattanooga, TN 37406
Two adjacent properties combine a four-unit building with additional finished and unfinished residential space.
Property Size7,160 SF
Price / SF$134.78
Days on Market154
Property Features for 916-920 Glenwood Drive
General Information
Standard status
Active
Size
7,160 SF
Property subtype
Residential Income / Multi Family
Property Condition
Severity
Repairs Needed
Evidence
awaiting renovation
Site & Location
Neighborhood
Wheeler Avenue Neighborhood Watch
Additional Details
Asking Price
$965,000
Multifamily Units
6
Amenities
Yes, Central Air
Yes, Central
No
Yes
10.0
10
Driveway
Building Details
Year Built
1993
Listing Agency:
Keller Williams Realty
Listed By:
Asher Black · License #359562
(423) 208-4943
Source:
Compass
Added: May 28
Changed: Oct 27
Last Checked: Oct 27 at 4:05AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily offering comprises two adjacent properties at 916 and 920 Glenwood Drive. The 916 property contains a four-unit building. At 920, one unit is finished, while a separate 2,000-square-foot unit with eight bedrooms and two bathrooms requires renovation. The property record lists a 1993 year built and a driveway.
Key Highlights
- Four‑unit multifamily building at 916 Glenwood Drive
- 920 Glenwood Drive includes one finished unit
- Separate 2,000 sq ft unit with 8 bedrooms and 2 bathrooms awaits renovation
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
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two adjacent properties combine a four-unit building with additional finished and unfinished residential space.
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: Four‑unit multifamily building at 916 Glenwood Drive; 920 Glenwood Drive includes one finished unit; Separate 2,000 sq ft unit with 8 bedrooms and 2 bathrooms awaits renovation
