NOT LISTED FOR SALE

3117 Ellis Ave Chattanooga, TN 37412

-- Bed
-- Bath
1,944 Sq Ft
1.5 Acres

Last Sold August 24, 2020

Last sale price $170,000 $87 Per Sq Ft

Highlights

  • No HOA
  • Central Heating
  • Property has 3 Levels
  • Cooling Available

About This Home

As of August 2020

Incredible investment opportunity located just minutes from downtown Chattanooga! This 7-unit package deal is comprised of a mid-century modern duplex, a quadruplex, and an A-frame single family home that if desired, could easily be modified into a duplex. All buildings feature new roofs, wiring, and plumbing, and 6 of the 7 units included updated kitchens and bathrooms; the 7th unit has not been renovated due to long-term occupancy. Current GMI of $5,293 and 100% occupied. Located in an easily rentable area, the properties are close to interstate access and just minutes from the shopping, dining, entertainment, and major businesses/employers in downtown Chattanooga. Proximity & visibility from the interstate (I-24) also make the unused land/yard an excellent location for a billboard. This setup is ideal for savvy investors or retirees who want tenant cash flow to pay their mortgage. The single-family A-frame could be used as a personal home (instead of a rental) while the 6 remaining units (which are in no need of rehab work) bring in positive cash flow. Acceptable Letter of Intent is required to view properties.

Last Agent to Sell the Property

Grace Frank

Zach Taylor Chattanooga Brokerage Phone: 4232083834 License #1182770,339584,305329 Listed on: 08/24/2020

Last Buyer's Agent

Grace Frank

Zach Taylor Chattanooga Brokerage Phone: 4232083834 License #1182770,339584,305329 Listed on: 08/24/2020

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 1.5

Home Design

  • Duplex
  • Metal Roof

Interior Spaces

  • 1,944 Sq Ft Home
  • Property has 3 Levels

Schools

  • East Ridge Elementary School
  • East Ridge Middle School
  • East Ridge High School

Utilities

  • Cooling Available
  • Central Heating

Listing and Financial Details

  • Assessor Parcel Number 156E D 036

Community Details

Overview

  • No Home Owners Association
  • 2 Units
  • Ronald Johnson Subdivision

Building Details

  • Gross Income $19,980

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Year Built: 1964
  • Unit Levels: Three Or More
  • Building Stories: 1
  • Structure Type: Duplex
  • Year Built Details: EXIST
  • ResoPropertyType: ResidentialIncome
  • Attribution Contact: 4232083834
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 1

Interior Features

  • Fireplace: No
  • Building Area Units: Square Feet
  • Living Area: 1944
  • Living Area Units: Square Feet

Exterior Features

  • Pool Private: No
  • Roof: Metal
  • 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: Central
  • Heating Yn: Yes
  • Utilities: Water Available

Condo/Co-op/Association

  • Association: No

Lot Info

  • Lot Size: 0
  • Lot Size Units: Acres
  • Parcel #: 156E D 036
  • Property Attached Yn: Yes
  • ResoLotSizeUnits: Acres

Multi Family

  • Gross Income: 19980
  • Above Grade Finished Area Units: Square Feet
  • Number Of Units Total: 2

Tax Info

  • Tax Annual Amount: 4571

MLS Schools

  • Elementary School: East Ridge Elementary School
  • High School: East Ridge High School
  • Middle Or Junior School: East Ridge Middle School

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/24/2020 08/24/20 Sold $170,000 -5.6% $87 / Sq Ft
08/24/2020 08/24/20 Pending -- -- --
08/24/2020 08/24/20 For Sale $180,000 -39.0% $93 / Sq Ft
09/22/2017 09/22/17 Sold $295,000 0.0% $38 / Sq Ft
08/17/2017 08/17/17 Pending -- -- --
08/14/2017 08/14/17 For Sale $295,000 -- $38 / Sq Ft
Source: Realtracs

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Grace Frank

    Seller's Agent in 2020

    Grace Frank

    Zach Taylor Chattanooga

    (423) 208-3834

    3 in this area

    167 Total Sales

    Grace Frank
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Map

Source: Realtracs

MLS Number: 2421769

Realtracs

APN: 156E D 036

Tennessee Hamilton County Chattanooga 37411

3117 Ellis Ave, Chattanooga, TN

This home is located at 3117 Ellis Ave, Chattanooga, TN 37412 since 24 August 2020. This property was built in 1964. 3117 Ellis Ave is a home located in Hamilton County with nearby schools including East Ridge Elementary School, East Ridge Middle School, and East Ridge High School.

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