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The Maclellan 721 Broad St 85 Unit Apartment Building For Sale Chattanooga, TN 37402

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Investment Highlights

Organic Rent Growth Headroom Bolstered by Class A Luxury Competitors
Premier Apartment Community with Bestin-Class Amenities and Unit Finishes
Unrivaled Downtown Location Surrounded by Chattanooga’s Top Destinations

Operational Efficiencies Upside Through Professional 3rd Party Management
Historic Asset Below Replacement Cost in the Heart of Downtown Chattanooga

Executive Summary

The Maclellan presents a rare opportunity to acquire a fully renovated, historic landmark multifamily asset in the heart of Downtown Chattanooga at a substantial discount to replacement cost. With modernized interiors, best-in-class amenities, and a premier walkable location surrounded by the city’s top employers, retailers, and attractions, The Maclellan competes directly with newer construction Class A properties while maintaining significant upside through organic rent growth and operational efficiencies. Current ownership has managed the asset since rehabilitation and lease-up, offering new ownership the ability to unlock value through professional third-party management and increased ancillary income. With below-market rents, high-end finishes, and no near-term capital needs, The Maclellan stands out as a prime, historic turnkey investment opportunity in one of Tennessee’s most dynamic markets.

Property Facts

Sale Type	Investment	Lot Size	0.54 AC
No. Units	85	Building Size	90,000 SF
Property Type	Multifamily	Average Occupancy	93%
Property Subtype	Apartment	No. Stories	12
Apartment Style	Mid-Rise	Year Built	2017
Building Class	A	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	C3

Sale Type	Investment
No. Units	85
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Mid-Rise
Building Class	A
Lot Size	0.54 AC
Building Size	90,000 SF
Average Occupancy	93%
No. Stories	12
Year Built	2017
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	C3