520 Holly St, Chattanooga, TN 37404
- Residential income homes
- 14,869 SF
- 0.25 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 520 Holly St
- Lot size
- 0.25 lot acres
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a portfolio of sixteen residential rental units situated across fourteen buildings in Chattanooga, Tennessee. The portfolio comprises twelve single-family homes and two duplexes, strategically located within a ten-mile radius and a convenient twenty-minute drive from downtown Chattanooga. This stabilized investment boasts a compelling 7.80% capitalization rate and a current 100% occupancy rate, generating a substantial net operating income (NOI) of $206,603. The asking price is $2,649,000, translating to $178.16 per square foot and $165,562.50 per unit across a total of 14,869 square feet on a 0.25-acre lot. Each unit has recently undergone significant renovations, including new siding, roofs, flooring, lighting, interior paint, and appliances. A mix of market-rate and Section 8 units ensures consistent rental income, with potential for further Section 8 conversion to enhance profitability. The properties are located in areas demonstrating strong appreciation, promising substantial long-term value growth. This turnkey portfolio offers investors a rare chance to acquire a high-performing, cash-flow positive asset with significant upside potential. Note that occupancy is subject to change.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Chattanooga
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.2799205
- Latitude
- 35.0352033
