Description
**INVESTORS & 1031 EXCHANGE BUYERS** Fully leased + fully renovated Quadplex located in the coveted Fort Wood Historic District of Downtown Chattanooga, immediately adjacent to the University of Chattanooga at Tennessee (4 min walk!) & just south of Erlanger Hospital (0.5 mile!), a dream for an investor looking for turnkey Day 1 cash flow & an asset beautifully positioned to capture all the growth upside of the Chattanooga market for years to come. Low maintenance after FULL RENOVATION in 2022; everything is less than 3 years old: this meticulous reno included a new roof, 4 new HVACs, 4 new water heaters, 4 brand new kitchens w/ quartz counters & stainless appliances (dishwasher, fridge, stove & microwave in every unit), 4 full gut bathroom renos w/ custom tile & timeless accents, recessed LED lighting & in-unit/on-site laundry. This spectacular property boasts original historic features, flawlessly maintained: exposed brick, beautifully refinished red oak hardwood floors, multiple fireplaces, stained glass windows, bay windows w/ window seats & a covered front porch. Owners invested in a LED-cured sewer liner to the city connection in 2023, virtually eliminating the risk of plumbing/sewer backups. The incredibly efficient lot has little-to-no landscaping costs. $5,640 gross monthly rents (nearly $68,000 annually) to 4 tenants on long term leases on Day 1! Wonderful property management in place comes highly recommended & allows for a seamless transition with tenant relations (inquire with listing agent). EASY <10 MIN WALK TO ERLANGER HOSPITAL: diversify your strategy to include furnished mid-term rentals to travel nurses & increase your cash flow! Properties like this never come up for sale in Fort Wood. Do not miss your opportunity to own this income-producing gem right next to a fast-growing UTC campus (4-5% YOY growth) and booming Downtown Chattanooga.
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0BEDS
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0.04ACRES
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0BATHS
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01/2 BATHS
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4,207SQFT
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$226$/SQFT
School Information
Description
**INVESTORS & 1031 EXCHANGE BUYERS** Fully leased + fully renovated Quadplex located in the coveted Fort Wood Historic District of Downtown Chattanooga, immediately adjacent to the University of Chattanooga at Tennessee (4 min walk!) & just south of Erlanger Hospital (0.5 mile!), a dream for an investor looking for turnkey Day 1 cash flow & an asset beautifully positioned to capture all the growth upside of the Chattanooga market for years to come. Low maintenance after FULL RENOVATION in 2022; everything is less than 3 years old: this meticulous reno included a new roof, 4 new HVACs, 4 new water heaters, 4 brand new kitchens w/ quartz counters & stainless appliances (dishwasher, fridge, stove & microwave in every unit), 4 full gut bathroom renos w/ custom tile & timeless accents, recessed LED lighting & in-unit/on-site laundry. This spectacular property boasts original historic features, flawlessly maintained: exposed brick, beautifully refinished red oak hardwood floors, multiple fireplaces, stained glass windows, bay windows w/ window seats & a covered front porch. Owners invested in a LED-cured sewer liner to the city connection in 2023, virtually eliminating the risk of plumbing/sewer backups. The incredibly efficient lot has little-to-no landscaping costs. $5,640 gross monthly rents (nearly $68,000 annually) to 4 tenants on long term leases on Day 1! Wonderful property management in place comes highly recommended & allows for a seamless transition with tenant relations (inquire with listing agent). EASY <10 MIN WALK TO ERLANGER HOSPITAL: diversify your strategy to include furnished mid-term rentals to travel nurses & increase your cash flow! Properties like this never come up for sale in Fort Wood. Do not miss your opportunity to own this income-producing gem right next to a fast-growing UTC campus (4-5% YOY growth) and booming Downtown Chattanooga.
621 Fortwood Place Chattanooga, TN 37403
Property Description
Architectural Style [] Attached Garage YN No Construction Materials BrickStucco Exterior Features Awning(s)Private Entrance Fencing [] Foundation Details [] Lot Features [] Other Structures [] Parking Features On Street Patio And Porch Features CoveredFront Porch Pool Features [] Roof Composition Structure Type Multi FamilyQuadruplex View [] View YN No Waterfront Features [] Waterfront YN No
Accessibility Features [] Appliances Smart Appliance(s)WasherStainless Steel Appliance(s)Self Cleaning OvenRefrigeratorMicrowaveExhaust FanENERGY STAR Qualified AppliancesElectric Water HeaterElectric RangeElectric OvenDryerDisposalDishwasher Basement FinishedFull Basement YN Yes Building Area Total 4207 Cooling Central AirElectric Cooling YN Yes Fireplace Features BasementBedroom Fireplace YN Yes Fireplaces Total 2 Flooring HardwoodTile Heating CentralElectricNatural GasSeparate MetersMulti Units Heating YN Yes Interior Features Breakfast NookBuilt-in FeaturesChandelierDouble ClosetsEntrance FoyerHigh CeilingsRecessed LightingStone CountersTub/shower Combo Laundry Features In UnitMultiple Locations Levels Three Or More Window Features Bay Window(s)
Association Amenities [] Association YN2 No Auction YN2 No Community Features Historic DistrictSidewalks Green Energy Efficient [] Green Sustainability [] Green Water Conservation [] Listing Terms CashConventional New Construction YN No Other Equipment [] Property Sub Type Quadruplex Security Features [] Senior Community YN No Sewer Public Sewer Special Listing Conditions [] Structure Type Multi Family Yes Tax Annual Amount 4523.2 Utilities Electricity AvailableNatural Gas AvailableWater Available Water Source Public
Listing information © 2025 The Multiple Listing Service of Chattanooga, Inc.
Listing courtesy of Weichert Realtors The Andrews Group: 615-383-3142.
