1400 Duncan AveChattanooga, TN 37404

Property Details for 1400 Duncan Ave

Year built

1935

Property size (Sq ft)

12,872 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional multifamily investment opportunity presents a portfolio of seven units within a larger 16-unit building located at 1400 Duncan Ave, Chattanooga, TN 37404, in the desirable Highland Park area. Boasting 100% occupancy as of October 11, 2024, this property offers a strong pro-forma NOI of $72,540 and a 6.00% cap rate. The total square footage is 12,872, with 4,550 square feet of net rentable space, priced at $240 per square foot. Each unit commands a price of $171,429. Built in 1935 and significantly renovated in 2006, this two-story building sits on a 14,343.75 square foot lot and includes three parking spaces. The property is zoned for commercial use and features classic charm and character, situated within walking distance of the University of Tennessee at Chattanooga and close to the Chattanooga Zoo and other area attractions. A monthly maintenance fee of $130 includes building insurance. The property's APN is 146J J 008 C001. This is an owner-user investment opportunity with no ground lease. This is a prime investment in a thriving Chattanooga neighborhood.

Location Insight

City

Chattanooga

County

Hamilton

State

Tennessee

Latitude

35.0374

Longitude

-85.2821

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