520 Holly St Chattanooga, TN 37404

Property Details for 520 Holly St

Lot size

0.25 lot acres

Property size

14,869 SF

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.