549 S Crest S, Chattanooga, TN 37404

Sold Price
List Price
Closing Date
Jan 31, 2024
Sq. Ft
Year Built

Property Description

Introducing a Rare Gem: The Charming 1920's Quadplex on Historical Missionary RidgeNestled on the iconic Missionary Ridge, this remarkable quadplex offers a glimpse into the past with its timeless 1920's charm, while delivering modern living and breathtaking views of downtown Chattanooga and Lookout Mountain. Rarely does such an exceptional property become available, and this is the first time in over two decades that this unique quadplex has graced the market. With a prime location and a keen eye for the market, this quadplex has found its niche. Each of the four units is fully furnished and leased on a mid-term basis, but the demand is such that tenants often stay anywhere from 6 to 24 months. As a result, vacancies are virtually non-existent, making this investment opportunity truly unparalleled. The property boasts a series of updates that ensure both aesthetic appeal and functionality. Each unit offers its own distinctive charm and character, making this quadplex a one-of-a-kind find.Apartment 1:Spacious 2-bedroom, 2-bathroom unit. Leases for $1,900/month. Features a generous kitchen and dining area. Bedrooms with ensuite bathrooms. A spacious living room with a wall of windows to capture the grand views.Apartment 2:Open-concept 1-bedroom, 1-bathroom unit. Leases for $1,750/month. Offers a large kitchen, living, and dining space.Apartment 3:1-bedroom, 1-bathroom unit. Leases for $1,650/month. Craftsman-style design with intricate detailing. Kitchen with ample cabinet space, open to a living area filled with natural light.Apartment 4:1-bedroom, 1-bathroom unit. Potential lease of $1,500/month. Semi-open concept layout with abundant natural light. A spacious back wooden deck accessible from the living room. Projected gross monthly income for the property stands at an impressive $6,800/month, reflecting the robust demand for this fully furnished complex. As this property is currently tenant-occupied, we kindly request that you refrain from disturbing the residents. Additionally, for the savvy investor looking for a turnkey opportunity, the property may be sold fully furnished. This is a rare chance to own a piece of Chattanooga's history while enjoying the financial benefits of a highly sought-after investment. Don't miss your opportunity to own this charming quadplex with breathtaking views. Contact us today to schedule a viewing and make this unique property yours.

Additional Information

2 Level
Aluminum/Vinyl, Cement Fiber Siding, Stone
Lot Description
Brow Lot, Historic District, Scenic View
Off Street Parking
Central, Electric
Central, Electric
Water Sewer
On Sewer, Public Water
Elementary School
East Ridge Elementary
Middle School
East Ridge Middle
High School
East Ridge High
Financing Available
Cash, Conventional, FHA

Mortgage Calculator

Amount of Loan
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Calculator source: Real Geeks

Listing courtesy of Crye-Leike, Realtors. Selling Office: Freestone Property Group.