Description

This fully occupied investment portfolio in Chattanooga, TN, offers a rare opportunity to acquire five single-family homes and one duplex, with one property currently operating as a business, providing a mix of residential and commercial income. Located within the same block for easier management, all properties feature individual driveways, ample parking, and fenced, flat backyards. Tenants are long-term, leases are month-to-month, and rents are below market, providing immediate income potential. The portfolio includes 1501 Fruitland, a duplex with two units, each offering two bedrooms, one bath, laundry, and screened-in porches; 1503 Fruitland, a single-family home with two bedrooms, one bath, wood floors, wheelchair ramp, and fenced yard; 1505 Fruitland, a long-term rental with two bedrooms, one bath, wood floors, and screened-in porch; 1507 Fruitland, a single-family home with two bedrooms, one bath, fireplace, detached garage, and large fenced backyard; and 1505 Maxwell Rd, a commercial property with six offices, kitchen, bath, and attached garage. Most properties fall under C-2 zoning, offering potential for office conversion, and there may be an opportunity to explore short-term vacation rentals. Appraised in 2023, this portfolio presents a strong turnkey investment in Chattanooga’s growing rental market, with immediate cash flow and potential for income growth.