4-Unit Multifamily
916 Glenwood Drive, Chattanooga, TN 37406
For Sale
$578,000
Built in 1993, the property is configured for multiple residential households.
Property Size3,600 SF
Price / SF$160.56
Days on Market63
Property Features for 916 Glenwood Drive
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Units
Listing Agency:
Keller Williams Realty
(423) 664-1900
Listed By:
Asher Black · License TN #359562
(423) 208-4943
Source:
Chattanoogahomes
Added: Sep 8
Changed: Nov 7
Last Checked: Nov 8 at 2:21PM
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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Investment Insights
Based on property information with market context.
This multifamily building contains four residential units and totals 3,600 square feet. Constructed in 1993, it is located at 916 Glenwood Drive in Chattanooga, Tennessee.
Key Highlights
- Four residential units
- 3,600 square feet
- Built in 1993
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,343
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$706,860
$706.9K
Cap Rate 7%
$504,900
$504.9K
Cap Rate 9%
$392,700
$392.7K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$54.0K $15.00/SF
− Vacancy
−$3.5K −$0.98/SF
EGI
$50.5K $14.03/SF
− OpEx
−$15.1K −$4.21/SF
NOI
$35.3K $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%
$706,860
Cap Rate 7%
$504,900
Cap Rate 9%
$392,700
Alternative Uses
Best Use
Multifamily LT 5
$504.9K
$441.8K – $589.1K
NOI $35,343 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$453.1K
$396.4K – $528.6K
NOI $31,715 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$795.1K
$695.7K – $927.6K
NOI $55,655 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
4
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Built in 1993, the property is configured for multiple residential households.
Where is this quadplex located?
The property is located at 916 Glenwood Drive Chattanooga, TN.
What is the asking price?
The asking price for this property is $578,000.
What are key features of this property?
This property features: Four residential units; 3,600 square feet; Built in 1993
