21752 River Canyon RdChattanooga, TN 37405

Property Details for 21752 River Canyon Rd

Year built

1984

Lot size

1.33 AC

Property size (Sq ft)

19,432 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a 22-unit multifamily property situated on 1.33 acres of prime waterfront land along the Tennessee River in Chattanooga, Tennessee. The property, comprised of two three-story buildings, boasts 19,432 square feet of net rentable space and currently enjoys 100% occupancy. Built in 1984 and renovated in 2000, the property features a mix of one- and two-bedroom units, all upgraded with modern amenities including fresh paint, luxury vinyl flooring, and granite countertops. Each unit includes in-unit washer/dryer hookups. The property benefits from a shared dock offering stunning river views, ample parking, and updated HVAC systems in many units. The property utilizes a well water and septic system and has high-speed cable services available. Zoned for commercial use, this meticulously maintained property offers significant potential for rental income growth, with a 2023 gross income of $452,530.82. This is a rare opportunity to acquire a well-established, high-performing multifamily asset in a desirable location, just minutes from downtown Chattanooga. The property is held under an LLC ownership and is offered for sale by owner, with no ground lease or broker co-op involved.

Location Insight

City

Chattanooga

County

Marion

State

Tennessee

Latitude

35.1226

Longitude

-85.3935

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