1400 Duncan Ave Chattanooga, TN 37404
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7-Unit Chattanooga Multifamily Investment
Property size:
12,872 SFProperty Features for 1400 Duncan Ave
General Information
- Property type
- Multifamily properties
- Square Feet
- 12,872 SF
Building Details
- Year Built/Renovated
- 1935/18
- Buildings
- 1
- Stories
- 2
- Units
- 7
Listing Agent: Shawn Matthews
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional multifamily investment opportunity presents a portfolio of seven units within a larger 16-unit building located at 1400 Duncan Ave, Chattanooga, TN 37404, in the desirable Highland Park area. Boasting 100% occupancy as of October 11, 2024, this property offers a strong pro-forma NOI of $72,540 and a 6.00% cap rate. The total square footage is 12,872, with 4,550 square feet of net rentable space, priced at $240 per square foot. Each unit commands a price of $171,429. Built in 1935 and significantly renovated in 2006, this two-story building sits on a 14,343.75 square foot lot and includes three parking spaces. The property is zoned for commercial use and features classic charm and character, situated within walking distance of the University of Tennessee at Chattanooga and close to the Chattanooga Zoo and other area attractions. A monthly maintenance fee of $130 includes building insurance. The property's APN is 146J J 008 C001. This is an owner-user investment opportunity with no ground lease. This is a prime investment in a thriving Chattanooga neighborhood.
Property Profile
Location Intelligence
Current Use by Public Records
Residential income homes
Location Insight
- Map
- Local Demand
- City
- Chattanooga
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.282079427586
- Latitude
- 35.037363482493
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - 7-Unit Chattanooga Multifamily Investment
Where is this multifamily property located?
The property is located at 1400 Duncan Ave Chattanooga, TN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Seven-unit multifamily portfolio in desirable Highland Park, Chattanooga, TN.; 100% occupancy (as of October 11, 2024), strong NOI of $72,540, and 6.00% cap rate.; 12,872 total square feet, 4,550 square feet net rentable space, priced at $240/SF; individual unit price: $171,429.
