Description
Location, Location, Location! This multi-family property in the desirable North Chattanooga area is located within a five-minute walk to the Northshore and a 10-minute walk to Downtown Chattanooga. Perfect for the investor looking to expand their rental portfolio in a prime location in the booming city of Chattanooga. This building is zoned R3 and is currently renting units as both long term and short-term vacation rentals (''STVR''). The unit mix is 2BD/1BA, 2BD/1.5 BA (STVR), standard 1 BD/1 BA (STVR), small 1BD/1BA and large studio. Q1 of 2021 has seen explosive growth in both occupancy and revenue for both of the units functioning as STVRs. Both STVR's have been recently updated and are extremely popular on Airbnb and completely turn key.All furnishings and appointments in the STVRs are included in the sale price. Two of the three long term rental units have recently been remodeled and are ready to be awesome short-term rentals if that is the direction the new owner wants to go. The one unit that has not been remodeled has had a long-term tenant that predated the current owners' acquisition of the property. The list of updates is too extensive to list.
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0BEDS
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0.17ACRES
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0BATHS
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01/2 BATHS
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2,909SQFT
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$244$/SQFT
School Information
Description
Location, Location, Location! This multi-family property in the desirable North Chattanooga area is located within a five-minute walk to the Northshore and a 10-minute walk to Downtown Chattanooga. Perfect for the investor looking to expand their rental portfolio in a prime location in the booming city of Chattanooga. This building is zoned R3 and is currently renting units as both long term and short-term vacation rentals (''STVR''). The unit mix is 2BD/1BA, 2BD/1.5 BA (STVR), standard 1 BD/1 BA (STVR), small 1BD/1BA and large studio. Q1 of 2021 has seen explosive growth in both occupancy and revenue for both of the units functioning as STVRs. Both STVR's have been recently updated and are extremely popular on Airbnb and completely turn key.All furnishings and appointments in the STVRs are included in the sale price. Two of the three long term rental units have recently been remodeled and are ready to be awesome short-term rentals if that is the direction the new owner wants to go. The one unit that has not been remodeled has had a long-term tenant that predated the current owners' acquisition of the property. The list of updates is too extensive to list.
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