549 S Crest Road, Chattanooga, TN 37404 (MLS# 1380927)

549 S Crest Road, Chattanooga, TN 37404

$751,000
Property Type: Residential Income Square Footage: 4,420 Lot Size (sq. ft.): 10,890 Status: Closed
Current Price: $751,000 List Date: 10/06/2023 Last Modified: 9/09/2024

Overview

Description

Introducing a Rare Gem: The Charming 1920's Quadplex on Historical Missionary Ridge Nestled on the iconic Missionary Ridge, this remarkable quadplex offers a glimpse into the past with its timeless 1920's charm, while delivering modern living and breathtaking views of downtown Chattanooga and Lookout Mountain. Rarely does such an exceptional property become available, and this is the first time in over two decades that this unique quadplex has graced the market. With a prime location and a keen eye for the market, this quadplex has found its niche. Each of the four units is fully furnished and leased on a mid-term basis, but the demand is such that tenants often stay anywhere from 6 to 24 months. As a result, vacancies are virtually non-existent, making this investment opportunity truly unparalleled. The property boasts a series of updates that ensure both aesthetic appeal and functionality. Each unit offers its own distinctive charm and character, making this quadplex a one-of-a-ki ...

Supplements: you refrain from disturbing the residents. Additionally, for the savvy investor looking for a turnkey opportunity, the property may be sold fully furnished. This is a rare chance to own a piece of Chattanooga's history while enjoying the financial benefits of a highly sought-after investment. Don't miss your opportunity to own this charming quadple ...

Listing Details MLS# 1380927

General Property Information

Number Of Units Total
4
Stories
2
Living Area
4420
Year Built
1921
New Construction YN
No
Home Warranty YN
No
Garage YN
No
Attached Garage YN
No
Carport YN
No
Lot Size Acres
0.25
Lot Size Square Feet
10890
Lot Size Dimensions
90.0X121.5
Association YN
No
View YN
Yes
Waterfront YN
No
Basement YN
Yes
Fireplace YN
No
Senior Community YN
No
List Price/SqFt
180.77
Sold Price/SqFt
169.91

Property Features

Basement: Finished Community Features: Historic District; None Construction Materials: Aluminum Siding; Fiber Cement; Stone Cooling: Central Air; Electric Current Financing: None Heating: Central; Electric Interior Features: Eat-in Kitchen; Open Floorplan Levels: Two Listing Terms: Cash; Conventional; FHA; Owner May Carry Lot Features: Brow Lot Owner Pays: All Utilities Parking Features: Off Street Possession: Close Of Escrow Roof: Shingle Tenant Pays: None Utilities: Sewer Connected View: Other Water Source: Public Lock Box Type: None

Contract Information

Auction YN
No
Listing Contract Date
2023-10-06
Property Sub Type
Quadruplex
Occupant Type
Tenant

Location Tax and Legal

Street Number
549
Street Direction Prefix
S
Street Name
Crest
Street Suffix
Road
County
Hamilton
State
TN
Postal Code
37404
Subdivision Name
None

Remarks and Miscellaneous

Public Remarks
Introducing a Rare Gem: The Charming 1920's Quadplex on Historical Missionary Ridge Nestled on the iconic Missionary Ridge, this remarkable quadplex offers a glimpse into the past with its timeless 1920's charm, while delivering modern living and breathtaking views of downtown Chattanooga and Lookout Mountain. Rarely does such an exceptional property become available, and this is the first time in over two decades that this unique quadplex has graced the market. With a prime location and a keen eye for the market, this quadplex has found its niche. Each of the four units is fully furnished and leased on a mid-term basis, but the demand is such that tenants often stay anywhere from 6 to 24 months. As a result, vacancies are virtually non-existent, making this investment opportunity truly unparalleled. The property boasts a series of updates that ensure both aesthetic appeal and functionality. Each unit offers its own distinctive charm and character, making this quadplex a one-of-a-kind find. Apartment 1: Spacious 2-bedroom, 2-bathroom unit. Leases for $1,900/month. Features a generous kitchen and dining area. Bedrooms with ensuite bathrooms. A spacious living room with a wall of windows to capture the grand views. Apartment 2: Open-concept 1-bedroom, 1-bathroom unit. Leases for $1,750/month. Offers a large kitchen, living, and dining space. Apartment 3: 1-bedroom, 1-bathroom unit. Leases for $1,650/month. Craftsman-style design with intricate detailing. Kitchen with ample cabinet space, open to a living area filled with natural light. Apartment 4: 1-bedroom, 1-bathroom unit. Potential lease of $1,500/month. Semi-open concept layout with abundant natural light. A spacious back wooden deck accessible from the living room. Projected gross monthly income for the property stands at an impressive $6,800/month, reflecting the robust demand for this fully furnished complex. As this property is currently tenant-occupied, we kindly request that
Directions
East on 41 like your going through tunnels first right on round about and up Westside Dr. Right on Crest. Quadplex on right.

Status Change Information

Major Change Timestamp
2024-02-02T21:31:49Z
Major Change Type
Status Change
Price Change Timestamp
2023-11-14T14:54:21Z
Status Change Timestamp
2024-02-02
Under Contract Date
2023-12-22
Close Date
2024-01-31
Close Price
751000

More Information

Unit 1

Unit Number
Yes
Total Full Baths
2
Kitchen
Yes
Living Room
Yes
Microwave
Yes
Refrigerator
Yes
Stove
Yes
Washer Dryer Hookups
Yes

Unit 2

Unit Number
2
Total Full Baths
Yes
Kitchen
Yes
Living Room
Yes
Microwave
Yes
Refrigerator
Yes
Stove
Yes
Washer Dryer Hookups
Yes

Unit 3

Unit Number
3
Total Full Baths
Yes
Kitchen
Yes
Living Room
Yes
Microwave
Yes
Refrigerator
Yes
Stove
Yes
Washer Dryer Hookups
Yes

Unit 4

Unit Number
4
Total Full Baths
Yes
Kitchen
Yes
Living Room
Yes
Microwave
Yes
Refrigerator
Yes
Stove
Yes
Washer Dryer Hookups
Yes

Unit 5

Unit Number
Yes
Baths Total (Legacy)
2
Unit Remarks
Furnished: F

Unit 6

Unit Number
2
Baths Total (Legacy)
Yes
Unit Remarks
Furnished: F

Unit 7

Unit Number
3
Baths Total (Legacy)
Yes
Unit Remarks
Furnished: F

Unit 8

Unit Number
4
Baths Total (Legacy)
Yes
Unit Remarks
Furnished: F

License Number Info

Listing Agent’s State of Licensure
TN
Listing Agent’s License Number
321037
Listing Office’s State of Licensure
TN
Listing Office’s License Number
337

Historical Information

Public Historical Remarks 1
Owner Pays: All Utilities. Unit 1 Features: 2+ Baths. Unit 2 Features: 1 Bath. Unit 3 Features: 1 Bath. Unit 4 Features: 1 Bath. HOA Fee: None.

Location, Tax, and Legal

Parcel Number
168j T 014
Office Exclusive
No
Elementary School
East Ridge Elementary
Middle Or Junior School
East Ridge Middle
High School
East Ridge High
Tax Annual Amount
4135.5
Tax Legal Description
LOT 4 J A WARDLAWS LAKEVIEW ADDN PB 7 PG12 REV 67-198 RES USED AD DUPLE X
Deed Book
5512
Deed Page
253

Basement

Finished
Yes

Community Features

Historic District
Yes
None
Yes

Construction Materials

Aluminum Siding
Yes
Fiber Cement
Yes
Stone
Yes

Listing Terms

Cash
Yes
Conventional
Yes
FHA
Yes
Owner May Carry
Yes

Lot Features

Brow Lot
Yes

Possession

Close Of Escrow
Yes

Utilities

Sewer Connected
Yes

View

Other
Yes

Water Source

Public
Yes

Cooling

Central Air
Yes
Electric
Yes

Owner Pays

All Utilities
Yes

Parking Features

Off Street
Yes

Tenant Pays

None
Yes

Current Financing

None
Yes

Levels

Two
Yes

Heating

Central
Yes
Electric
Yes

Interior Features

Eat-in Kitchen
Yes
Open Floorplan
Yes

Roof

Shingle
Yes

Lock Box Type

None
Yes

Documents

Listing Office: Crye-Leike, REALTORS
Last Updated: September - 09 - 2024
Information deemed reliable but not guaranteed.
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