Michael Osborne
BEDS0
BATHS
SQUARE FEET5,134
MLS#3622471
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONChandlers
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.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Wall/Window Unit(s)
Heating: Baseboard
Lot Size: 0.37 Acres
Roof Type: Metal
Stories: 1.0
Taxes: $10,916
Year Built: 1954
Feature Descriptions
Days on Site: 10
Exterior: Brick
Flooring: Laminate
Laundry: Washer Hookup
Lot Dimensions: 126X128.2
Parcel#: 136O B 012
Security: Smoke Detector(s)
Sewer: Public Sewer
Units: 6
Utilities: Water Available
Water: Public
Local Schools
High School: Howard School Of Academics Technology
Middle School: Orchard Knob Middle School
Elementary School: Orchard Knob Elementary School
Listed By / Shown By
Listed By
Agency Name: Benchmark Realty, LLC
Agency Phone: 6153711544
Shown By
Agent Name: Michael Osborne
Agent Phone: (615) 397-5054
Agency Title: Crye-Leike Real Estate Services
Source: Nashville MLS
Estimate Your Payment
Estimated Payment
$ 3,175.18 per month $2,003.01 Principal & Interest $909.67 Property Tax $262.50 Homeowner's InsuranceChange Payment Information
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45 Scruggs St | MLS# 3622471
This multi-family property located at 45 Scruggs St, Chattanooga, TN 37403 is currently listed for sale with an asking price of $900,000. Search Chattanooga real estate on www.michaelosbornerealestate.com today.