Four-Unit Multifamily
For Sale
$965,000
916920 Glenwood Drive, Chattanooga, TN 37406
Two adjoining properties combine completed residential units with additional space requiring renovation.
Property Size7,160 SF
Price / SF$134.78
Days on Market156
Property Features for 916920 Glenwood Drive
General Information
Standard status
Active
Size
7,160 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Wheeler Avenue Neighborhood Watch
Additional Details
Asking Price
$899,900
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$6,734
Listing Agency:
Keller Williams Realty
(423) 664-1900
Listed By:
Asher Black · License #359562
(423) 208-4943
Source:
Exprealty
Added: May 26
Changed: Oct 27
Last Checked: Oct 26 at 8:39PM
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.
The offering includes two adjoining properties at 916920 Glenwood Drive in Chattanooga. The 916 component contains a completed four-unit multifamily building. At 920, one unit is finished, while a separate 2,000-square-foot unit with eight bedrooms and two bathrooms remains unfinished and requires renovation. The combined property size is listed as 7,160 square feet. This configuration brings completed residential improvements together with a defined renovation component, providing a clear view of the existing unit count and the additional unfinished space within the offering.
Key Highlights
- Four‑unit multifamily building at 916
- One finished unit included at 920
- 2,000 sq ft unit with 8 beds and 2 baths requires renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,293
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,405,860
$1.4M
Cap Rate 7%
$1,004,186
$1.0M
Cap Rate 9%
$781,033
$781.0K
Market Conditions
NOI Build-Up for 7,160 SF
Gross rent
$107.4K $15.00/SF
− Vacancy
−$7.0K −$0.98/SF
EGI
$100.4K $14.03/SF
− OpEx
−$30.1K −$4.21/SF
NOI
$70.3K $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%
$1,405,860
Cap Rate 7%
$1,004,186
Cap Rate 9%
$781,033
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$878.7K – $1.17M
NOI $70,293 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$901.1K
$788.5K – $1.05M
NOI $63,077 @ 7.0% cap · market cap 6.54%
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
870
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?
Quadplex - Two adjoining properties combine completed residential units with additional space requiring renovation.
Where is this quadplex located?
The property is located at 916920 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; One finished unit included at 920; 2,000 sq ft unit with 8 beds and 2 baths requires renovation
