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Fully Leased Quad in Chattanooga 201 Lancaster Ave 4 Unit Apartment Building $550,000 ($137,500/Unit) Chattanooga, TN 37415
Executive Summary
This property sits at the corner of Lancaster Avenue and Elmore Avenue in Red Bank. The mostly brick quad has
1-two bedroom apartment and 3-one bedroom apartments. Monthly rent totals $3,200. Each unit is separately metered for electricity. The owner pays the water, which currently runs less than $40/month. Three units are in one building and the fourth unit is in a stand alone building. The building is fully leased. The property has an in-house laundry, but the owner does not utilize that feature. Well maintained property and would be a great opportunity for an investor.
1-two bedroom apartment and 3-one bedroom apartments. Monthly rent totals $3,200. Each unit is separately metered for electricity. The owner pays the water, which currently runs less than $40/month. Three units are in one building and the fourth unit is in a stand alone building. The building is fully leased. The property has an in-house laundry, but the owner does not utilize that feature. Well maintained property and would be a great opportunity for an investor.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $550,000 | Building Class | C |
| Price Per Unit | $137,500 | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 2,816 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1940 |
| Zoning | Residential | ||
| Price | $550,000 |
| Price Per Unit | $137,500 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 2,816 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1940 |
| Zoning | Residential |
Amenities
Unit Amenities
- Air Conditioning
- Refrigerator
- Oven
1 1
Property Taxes
| Parcel Number | 117E-H-014 | Improvements Assessment | $0 (2025) |
| Land Assessment | $0 (2025) | Total Assessment | $138,240 (2025) |
Property Taxes
Parcel Number
117E-H-014
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$138,240 (2025)
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Fully Leased Quad in Chattanooga | 201 Lancaster Ave
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