4614 Norcross Rd Chattanooga, TN 37343
- Apartment buildings
- 2,556 SF
- 0.57 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 4614 Norcross Rd
- Year built
- 1967
- Lot size
- 0.57 lot acres
- Property size
- 2,556 SF
- Property type
- Apartment buildings
Description
This beautifully remodeled 1967 brick duplex in Chattanooga, TN (Hixson), offers a compelling investment opportunity. Boasting 2,556 square feet on a 0.57-acre lot, this property features two units, each with four bedrooms and one bathroom. Recent renovations (2024) include new LVP flooring, light fixtures, bath fixtures, and kitchen appliances (Whirlpool refrigerator, Frigidaire range, Whirlpool microwave, and custom counters). All appliances are included. Each unit also includes a full garage and the property offers off-street parking. Currently, one unit is occupied at $1,700/month (below market rate), while the other is ready for immediate occupancy. The pro-forma NOI is $36,601, reflecting a projected rent of $2,000 per unit, still below market value. The property is zoned R2 and is conveniently located near Northgate Mall and various restaurants and services. The updated exterior, featuring white brick with contrasting trim, provides excellent curb appeal. This well-maintained property presents a strong return on investment with an 8% cap rate. The property's location on Norcross Road in a desirable area adds to its appeal. This is a must-see investment opportunity.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chattanooga
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.2544
- Latitude
- 35.1351
