G
Seller's Agent in 2022
Grace Frank
Chattanooga Real Estate Group LLC
Estimated Value: $142,000 - $319,000
Incredible opportunity to purchase two duplexes in East Lake with excellent rental income history. 1201 & 1203 E 34th St are neighboring two-story duplexes being sold together as a package deal; both were built in 2004 and feature 2,328 sqft and low maintenance brick and vinyl siding exteriors. All four units boast 3 bedrooms, 2 full bathrooms, living rooms, eat-in kitchens, off-street parking, and access to the large fenced yard. Additionally, they are adjacent to a city park. A contract expiring 8/29/39 with the Chattanooga Housing Authority provides for project based vouchers for these rental units (vouchers go with the property, not the tenants). These vouchers provides a gross monthly income of up to $929 per unit even during periods of vacancy (up to 60 days) which ensures consistent cash flow and minimizes some of the risk associated with investment properties. The duplexes are currently 100% occupied with a $3,488 GMI. Only half of the vouchers are being used, so the GMI could easily be increased to $3,716 by utilizing the two remaining vouchers. The profit and loss statement for 2021 shows a gross income of $42,032. Situated a couple blocks off of Rossville Blvd, these duplexes are just minutes from downtown Chattanooga, popular Southside, St Elmo, Lookout Mountain, Rossville, and I-24 access. Since the properties are tenant occupied, showings can only be scheduled after an accepted letter of intent or accepted contract.
Last Agent to Sell the Property
Grace Frank
Chattanooga Real Estate Group LLC Listed on: 01/10/2022
Last Buyer's Agent
Tyler Michael
Keller Williams Realty License #353650
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Hua Adam | $242,000 | Bridge City Abstract | |
| Hudson David | $142,500 | First Title | |
| Wildcat Properties Two Llc | -- | None Available | |
| Vaughn James Watson | $79,000 | Associates Closing & Title |
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Hua Adam | $169,400 | |
| Previous Owner | Hudson David | $106,875 |
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/15/2022 03/15/22 | Sold | $242,000 | -51.4% | $104 / Sq Ft | |
| 01/23/2022 01/23/22 | Pending | -- | -- | -- | |
| 01/10/2022 01/10/22 | For Sale | $498,000 | +249.5% | $214 / Sq Ft | |
| 08/30/2019 08/30/19 | Sold | $142,500 | -10.9% | $61 / Sq Ft | View Prior Sale |
| 07/19/2019 07/19/19 | Pending | -- | -- | -- | |
| 03/01/2019 03/01/19 | For Sale | $160,000 | -- | $69 / Sq Ft |
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $968 | $63,840 | $0 | $0 |
| 2024 | $1,206 | $53,920 | $0 | $0 |
| 2023 | $1,206 | $53,920 | $0 | $0 |
| 2022 | $1,206 | $53,920 | $0 | $0 |
| 2021 | $1,206 | $53,920 | $0 | $0 |
| 2020 | $1,205 | $43,560 | $0 | $0 |
| 2019 | $1,205 | $43,560 | $0 | $0 |
| 2018 | $1,118 | $43,560 | $0 | $0 |
| 2017 | $1,205 | $43,560 | $0 | $0 |
| 2016 | $1,205 | $0 | $0 | $0 |
| 2015 | $2,326 | $43,560 | $0 | $0 |
| 2014 | -- | $0 | $0 | $0 |
G
Seller's Agent in 2022
Grace Frank
Chattanooga Real Estate Group LLC
T
Buyer's Agent in 2022
Tyler Michael
Keller Williams Realty
J
Seller's Agent in 2019
Jamie Glenn
Berkshire Hathaway HomeServices Realty Center
Buyer's Agent in 2019
Tim West
Keller Williams Realty
(423) 763-1001
295 Total Sales
Source: Greater Chattanooga REALTORS®
MLS Number: 1348270
APN: 156P-E-027.01