1. Tennessee
2. Chattanooga
3. 621 Fortwood Place

621 Fortwood Place, Chattanooga, TN 37403

• 4,207 sqft

Property Description

**INVESTORS & 1031 EXCHANGE BUYERS** Fully leased + fully renovated Quadplex located in the coveted Fort Wood Historic District of Downtown Chattanooga, immediately adjacent to the University of Chattanooga at Tennessee (4 min walk!) & just south of Erlanger Hospital (0.5 mile!), a dream for an investor looking for turnkey Day 1 cash flow & an asset beautifully positioned to capture all the growth upside of the Chattanooga market for years to come. Low maintenance after FULL RENOVATION in 2022; everything is less than 3 years old: this meticulous reno included a new roof, 4 new HVACs, 4 new water heaters, 4 brand new kitchens w/ quartz counters & stainless appliances (dishwasher, fridge, stove & microwave in every unit), 4 full gut bathroom renos w/ custom tile & timeless accents, recessed LED lighting & in-unit/on-site laundry. This spectacular property boasts original historic features, flawlessly maintained: exposed brick, beautifully refinished red oak hardwood floors, multiple fireplaces, stained glass windows, bay windows w/ window seats & a covered front porch. Owners invested in a LED-cured sewer liner to the city connection in 2023, virtually eliminating the risk of plumbing/sewer backups. The incredibly efficient lot has little-to-no landscaping costs. $5,640 gross monthly rents (nearly $68,000 annually) to 4 tenants on long term leases on Day 1! Wonderful property management in place comes highly recommended & allows for a seamless transition with tenant relations (inquire with listing agent). EASY <10 MIN WALK TO ERLANGER HOSPITAL: diversify your strategy to include furnished mid-term rentals to travel nurses & increase your cash flow! Properties like this never come up for sale in Fort Wood. Do not miss your opportunity to own this income-producing gem right next to a fast-growing UTC campus (4-5% YOY growth) and booming Downtown Chattanooga.

Listing Status:

Active

Date Added:

February 15, 2025 at 06:00AM

Listing Office:

Weichert Realtors The Andrews Group : 615-383-3142

MLS ID:

1507504

Interior

• General: Tub/shower ComboBreakfast NookBuilt-in FeaturesChandelierEntrance FoyerHigh CeilingsHis and Hers ClosetsRecessed LightingStone Counters
• Appliances: DryerDisposalDishwasherExhaust FanElectric OvenENERGY STAR Qualified AppliancesElectric RangeElectric Water HeaterMicrowaveRefrigeratorSelf Cleaning OvenSmart Appliance(s)Stainless Steel Appliance(s)Washer
• Laundry: Multiple LocationsIn Unit
• Basement: FinishedFull
• Flooring: HardwoodTile
• A/C: Central AirElectric
• Heating: CentralElectricNatural GasSeparate MetersVaries by Unit
• Fireplace: BedroomBasementFireplaceFireplaces: 2

Exterior

Construction

Location

Lot

Utilities

Financial

This listing courtesy of Weichert Realtors The Andrews Group