NOT LISTED FOR SALE

1601 Mitchell Ave Chattanooga, TN 37408

Southside Neighborhood

Estimated Value: $975,000 - $1,101,000

Studio
4 Baths
5,000 Sq Ft
$207/Sq Ft Est. Value

Sale Details

Date Sold: March 27, 2018

Last sale price $588,000 $118 Per Sq Ft

Est. 76% increase in value since last sale

Current estimated payment $5,893 / mo

6 Days on Market

Highlights

  • No HOA
  • Heating Available
  • 4-minute walk to Play Wash Pint
  • Central Air

About This Home

As of March 2018

Welcome to 1601 Mitchell Ave - a Southside quadplex within walking distance to Southside Pizza, the future Heaven & Ale, Jefferson Heights Park, Niedlov's, Main St. Meats, Slick's Burgers and more. Easy drive to UTC. Each unit features 3 bedrooms, 1.5 bathrooms, living and dining room, and washer/dryer hookups. Some units have been recently renovated with fresh paint and cabinetry, and sleek black appliances. 100% occupied - a great addition to a real estate investor's portfolio!

Last Buyer's Agent

Katherine Smith

Greater Downtown Realty dba Keller Williams Realty License #279522,294185

Greater Downtown Realty dba Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,085

Year Built

  • Built in 1997

Lot Details

  • Lot Dimensions are 44x125

Home Design

  • Quadruplex
  • Brick Exterior Construction

Interior Spaces

  • 5,000 Sq Ft Home
  • Property has 3 Levels

Schools

  • Orchard Knob Middle School
  • Howard School Of Academics Technology High School

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • Assessor Parcel Number 145LDC 003

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Fort Negley Addn Subdivision

Building Details

  • Gross Income $51,600

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,085

Year Built

Built in 1997

Lot Details

6,098 Sq Ft Lot

Listing Details

  • Prop. Type: Residential Income
  • Year Built: 1997
  • Unit Levels: Three Or More
  • New Construction: No
  • Building Stories: 2
  • Structure Type: Quadruplex
  • Year Built Details: EXIST
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Fireplace: No
  • Building Area Units: Square Feet
  • Living Area: 5000
  • Living Area Units: Square Feet

Exterior Features

  • Construction Type: Other, Brick
  • Pool Private: No
  • Roof: Other
  • View: No
  • Waterfront: No

Garage/Parking

  • Attached Garage: No
  • Carport Y N: No
  • Garage Yn: No
  • Parking Features: Detached

Utilities

  • Water Source: Public
  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Electric
  • Heating Yn: Yes
  • Utilities: Electricity Available, Water Available

Condo/Co-op/Association

  • Association: No

Lot Info

  • Lot Size: 44X125
  • Lot Size Units: Acres
  • Parcel #: 145LDC 003
  • Property Attached Yn: Yes
  • ResoLotSizeUnits: Acres

Multi Family

  • Gross Income: 51600
  • Above Grade Finished Area Units: Square Feet
  • Number Of Units Total: 4

Tax Info

  • Tax Annual Amount: 5085

MLS Schools

  • High School: Howard School Of Academics Technology
  • Middle Or Junior School: Orchard Knob Middle School

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 15, 2024
Sold by
W2t Five Llc
Bought by
Utc Eight Llc
Current Estimated Value
$1,036,882

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$475,000
Outstanding Balance
$468,352
Interest Rate
6.89%
Mortgage Type
New Conventional
Estimated Equity
$568,530

Purchase Details

Closed on
Sep 24, 2020
Sold by
1601 Mitchell Avenue Llc
Bought by
W2t Five Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$352,500
Interest Rate
2.9%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 3, 2020
Sold by
Urban Growth Capital Llc
Bought by
1601 Mitchell Avenue Llc

Purchase Details

Closed on
Sep 17, 2019
Sold by
Market Street Vl Partners Llc
Bought by
Nelson Robin L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$169,900
Interest Rate
3.6%
Mortgage Type
New Conventional

Purchase Details

Listed on
Feb 2, 2018
Closed on
Mar 26, 2018
Sold by
Wlcs Holdings Llc
Bought by
Urban Growth Capital Llc
Buyer's Agent
Katherine Smith
Greater Downtown Realty dba Keller Williams Realty
List Price
$600,000
Sold Price
$588,000
Premium/Discount to List
-$12,000
-2%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.34%
Original Mortgage
$330,000
Interest Rate
4.38%
Mortgage Type
Commercial

Purchase Details

Listed on
Jun 16, 2017
Closed on
Aug 2, 2017
Sold by
Bmb Obispo Llc
Bought by
Wlcs Holdings Llc
Seller's Agent
Grace Frank
Zach Taylor Chattanooga
Buyer's Agent
Ryan May
Real Estate Partners Chattanooga, LLC
List Price
$495,000
Sold Price
$500,000
Premium/Discount to List
$5,000
1.01%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
28.83%
Original Mortgage
$375,000
Interest Rate
3.9%
Mortgage Type
Commercial

Purchase Details

Closed on
May 24, 2017
Sold by
Marchi On The Southside Llc
Bought by
Bmb Obispo Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$944,248
Interest Rate
4.08%
Mortgage Type
Commercial

Purchase Details

Closed on
May 15, 2013
Sold by
Cne Affordable Housing Lp Iii
Bought by
Marchi On The Southside Llc
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Utc Eight Llc -- None Listed On Document
Utc Eight Llc -- None Listed On Document
W2t Five Llc $639,000 Title Guaranty & Trust Co
1601 Mitchell Avenue Llc -- Commerce Title & Escrow Llc
Nelson Robin L $249,900 First Choice Title Inc
Urban Growth Capital Llc $588,000 Title Guranty And Trust Co
Wlcs Holdings Llc $500,000 Title Guaranty & Trust Co
Bmb Obispo Llc $772,000 Jones Raulston Title Ins Agc
Marchi On The Southside Llc $350,460 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Utc Eight Llc $475,000
Closed Utc Eight Llc $475,000
Previous Owner W2t Five Llc $352,500
Previous Owner Nelson Robin L $169,900
Previous Owner Urban Growth Capital Llc $330,000
Previous Owner Wlcs Holdings Llc $375,000
Previous Owner Bmb Obispo Llc $944,248
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/27/2018 03/27/18 Sold $588,000 -2.0% $118 / Sq Ft
02/08/2018 02/08/18 Pending -- -- --
02/02/2018 02/02/18 For Sale $600,000 +20.0% $120 / Sq Ft
08/04/2017 08/04/17 Sold $500,000 +1.0% $114 / Sq Ft View Prior Sale
06/22/2017 06/22/17 Pending -- -- --
06/16/2017 06/16/17 For Sale $495,000 -- $113 / Sq Ft
Source: Realtracs

Tax History

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 $3,704 $244,400 $0 $0
2024 $5,155 $230,400 $0 $0
2023 $5,155 $230,400 $0 $0
2022 $5,155 $230,400 $0 $0
2021 $5,155 $230,400 $0 $0
2020 $4,345 $157,120 $0 $0
2019 $4,345 $157,120 $0 $0
2018 $3,704 $157,120 $0 $0
2017 $2,788 $100,840 $0 $0
2016 $1,654 $0 $0 $0
2015 $3,150 $59,800 $0 $0
2014 $3,150 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Katherine Smith

    Buyer's Agent in 2018

    Katherine Smith

    Greater Downtown Realty dba Keller Williams Realty

    (423) 228-0229

    4 in this area

    292 Total Sales

    Katherine Smith
    Section Image
  • Grace Frank

    Seller's Agent in 2017

    Grace Frank

    Zach Taylor Chattanooga

    (423) 208-3834

    1 in this area

    138 Total Sales

    Grace Frank
    Section Image
  • Ryan May

    Buyer's Agent in 2017

    Ryan May

    Real Estate Partners Chattanooga, LLC

    (423) 667-5922

    55 in this area

    589 Total Sales

    Ryan May
    Section Image
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Map

Source: Realtracs

MLS Number: 2728901

Realtracs

APN: 145LD-C-003

Tennessee Hamilton County Chattanooga 37408 Southside

1601 Mitchell Ave, Chattanooga, TN

Not Listed for Sale

MultiFamily

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Realtracs Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Based on information submitted to the MLS GRID

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