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1500 +1502 E 13th Street, Chattanooga, TN 37404

$1,295,000
: 11
BD
: 9
BA
: 6,455
SqFt

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List Price: $1,295,000
MLS#: 1543721
Bedrooms: 11
Sq. Ft: 6,455
Acres: 0.30
Year Built: 2022
Subdivision: Fort & Porter Addn

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Property Description

Immediate income. Five leased residences. Attractive pricing for newer construction with significant income upside. Located at 1500 & 1502 E. 13th Street, this fully occupied Chattanooga portfolio combines four townhomes and one detached single-family residence totaling approximately 6,455 square feet. Current rents generate $8,115 per month, or $97,380 in annual gross rental income, providing an established income stream with potential to increase returns through future rent adjustments as leases renew. Each townhome offers approximately 1,220 square feet, while the detached residence includes approximately 1,575 square feet. Most tenants are on one-year leases, with Unit 112 leased month-to-month, offering near-term flexibility. The newer townhome construction and attractive portfolio pricing create a compelling opportunity for investors seeking immediate cash flow and room for income growth. Situated on a spacious corner lot with alley access, the property features dedicated parking for each townhome, additional parking behind the residence, a rear-building sprinkler system, and underground stormwater management. Conveniently located near downtown Chattanooga, Highland Park, the Main Street district, UTC, and major medical centers, the property offers access to employment, dining, breweries, and entertainment. Hold the portfolio for ongoing rental income, pursue rent growth as leases renew, or explore potential individual unit sales, subject to verification of separate ownership and applicable requirements. Five income-producing residences, newer construction appeal, and substantial upside potential--all in Chattanooga's urban core.

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Additional Information

Style: Contemporary
Exterior: Block, Cement Siding, Wood Siding
Interior: Tub/shower Combo, Eat-in Kitchen, High Speed Internet, Kitchen Island, Open Floorplan, Recessed Lighting
Roof: Shingle
Floors: Carpet, Hardwood, Luxury Vinyl
Foundation: Block, Slab
Appliances: Disposal, Dishwasher, Electric Oven, Electric Water Heater, Free-Standing Electric Oven, Microwave, Washer/Dryer, Washer/Dryer Stacked
Exterior Features: Courtyard, Lighting
Lot Description: Back Yard, City Lot, Front Yard, Level
Pool Description: None
Cooling: Central Air
Heating: Central
Elementary School: East Side Elementary
Middle School: Orchard Knob Middle
High School: Howard School Of Academics & Tech
Financing Available: Cash, Conventional