621 Fortwood Place, Chattanooga, TN 37403
Local realty services provided by:Better Homes and Gardens Real Estate Signature Brokers
621 Fortwood Place,Chattanooga, TN 37403
$850,000
- - Beds
- - Baths
- 4,207 sq. ft.
- Multi-family
- Pending
Listed by:christian sedelmyer
Office:weichert realtors the andrews group
MLS#:1507504
Source:TN_CAR
Price summary
- Price:$850,000
- Price per sq. ft.:$202.04
About this home
**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.
Contact an agent
Home facts
- Year built:1920
- Listing Id #:1507504
- Added:184 day(s) ago
- Updated:July 17, 2025 at 07:17 AM
Rooms and interior
- Living area:4,207 sq. ft.
Heating and cooling
- Cooling:Central Air, Electric
- Heating:Central, Electric, Heating, Natural Gas
Structure and exterior
- Roof:Composition
- Year built:1920
- Building area:4,207 sq. ft.
- Lot area:0.04 Acres
Utilities
- Water:Public, Water Available
- Sewer:Public Sewer
Finances and disclosures
- Price:$850,000
- Price per sq. ft.:$202.04
- Tax amount:$4,523
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