$550,000
Rare north Chattanooga Investment Opportunity.
Location, character, and income come together in this iconic historic triplex located at the corner of Tremont Street and Mississippi Avenue. Previously producing $3,750/month ($45,000 annually), this property offers three updated rental units and an excellent opportunity for an investor or owner occupant to live in one unit while renting the other two.
Originally a neighborhood general store, the property has been thoughtfully converted into three unique units. Unit A: 1BR/1BA with stackable W/D and covered front porch, previously rented for $1,100/month and now vacant. Unit B: 2BR/2BA with impressive 14' ceilings, two loft storage areas and stackable W/D, currently rented for $1,500/month. Unit C: 1BR/1BA with W/D hookups, private rear deck and firepit area, currently rented for $1,150/month.
Major systems have been updated by the seller, and the TPO roof has plenty of life remaining. Additional features include private rear parking accessed from Boylston Street, ample curbside parking, detached garage, and abundant dry basement storage.
Just one block from Normal Park Elementary and Aretha Frankenstein, and within walking distance of Coolidge Park, the Tennessee River, restaurants, shops, bars, and Downtown Chattanooga. A rare opportunity to own a stabilized income-producing property in one of Chattanooga's most desirable neighborhoods.
DO NOT DISTURB TENANTS. Only the vacant unit may be shown. Tenant-occupied units may be inspected after an accepted contract.
Inquire for additional interior photos for tenant occupied Unit B & C available.
Seller is offering to pay buyer's closing costs!
4
Beds
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4
Baths
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1542045
MLS
835 Tremont Street, Chattanooga