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Listed by Joshua Ellis • Benchmark Realty, LLC
$ 1,000,000
Est. payment /mo
New
45 Scruggs St Chattanooga, TN 37403
5,134 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,134 sqft
Price per Sqft $194
Subdivision Chandlers
MLS Listing ID 3622471
HOA Y/N No
Year Built 1954
Annual Tax Amount $10,916
Lot Dimensions 126X128.2
Property Description
Excellent investment opportunity in the heart of Chattanooga! This 6-unit apartment complex is ideally located less than a mile from Erlanger Hospital, UTC, and Downtown Chattanooga, putting tenants within minutes of some of the city's largest employers, schools, restaurants, entertainment, and amenities.
The property consists of six 2-bedroom, 1-bath units, all of which have been freshly updated and are ready for new tenants. Each unit includes a refrigerator, oven, and stove.
Five of the six units are currently vacant by design, making the property easy to show and giving the next owner the opportunity to immediately select their own tenants and establish leases at current market rents. Estimated market rents are approximately $1,000–$1,100 per month per unit, offering potential gross rental income of approximately $6,000–$6,600 per month when fully occupied.
With updated units, a highly convenient location, and the ability to place new tenants immediately, 45 Scruggs Street could be an excellent fit for a first-time multifamily investor, an experienced investor looking to add to their portfolio, or a 1031 Exchange buyer looking to identify a replacement property before year-end.
Turnkey units, strong rental potential, and an outstanding Chattanooga location—all in one property.
The property consists of six 2-bedroom, 1-bath units, all of which have been freshly updated and are ready for new tenants. Each unit includes a refrigerator, oven, and stove.
Five of the six units are currently vacant by design, making the property easy to show and giving the next owner the opportunity to immediately select their own tenants and establish leases at current market rents. Estimated market rents are approximately $1,000–$1,100 per month per unit, offering potential gross rental income of approximately $6,000–$6,600 per month when fully occupied.
With updated units, a highly convenient location, and the ability to place new tenants immediately, 45 Scruggs Street could be an excellent fit for a first-time multifamily investor, an experienced investor looking to add to their portfolio, or a 1031 Exchange buyer looking to identify a replacement property before year-end.
Turnkey units, strong rental potential, and an outstanding Chattanooga location—all in one property.
Location
State TN
County Hamilton County
Zoning RN-3
Interior
Heating Baseboard
Cooling Wall/Window Unit(s)
Flooring Laminate
Fireplace N
Exterior
Utilities Available Water Available
View Y/N false
Roof Type Metal
Private Pool false
Building
Story 1
Sewer Public Sewer
Water Public
Structure Type Brick
New Construction false
Schools
Elementary Schools Orchard Knob Elementary School
Middle Schools Orchard Knob Middle School
High Schools Howard School Of Academics Technology
Others
Senior Community false
Special Listing Condition Owner Agent
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