515 Forest Avenue
Chattanooga, TN 37405
- – beds
- – baths
- – sqft
- ~1/2 acre lot
- – on site
This property boasts R3 zoning, offering a rare and unique advantage in an area largely dominated by high-end single-family homes, which have an average sales price of $634,871. The R3 zoning allows for both single-family, townhomes and multi-family dwellings. The property currently features a quadplex, with month-to-month leases in place for two tenants. This arrangement provides developers with the flexibility to promptly demolish the structure and clear the lot for future development. Moreover, all utilities are already in place for the site. Chattanooga is currently facing a significant housing shortage while experiencing rapid growth. This development presents a prime opportunity to meet the rising demand for residential in the city. Looking ahead to May 2025, the Chattanooga housing market is projected to grow by 0.4%. Located in the heart of the expanding Northshore district along Forest Ave, this site not only offers a prime location—a stone's throw from the vibrant heart of the city—but also boasts scenic city views. Residents can enjoy walking, biking, or easy driving access to Northshore, downtown, and Southside hotspots, including trendy restaurants, lounges, music venues, the Walnut Street walking bridge, Coolidge Park, the Riverfront, the Aquarium.The dynamic Northshore district provides convenient access to essential amenities such as Publix, Walgreens, Walk-In clinic, various fitness options, banks, and a post office, all while being at the center of excitement and growth. The Normal Park Museum Magnet School, located within the neighborhood bounds, serves students in kindergarten through eighth grade. Normal Park, which received an A-minus from Niche. OFFERING MEMORANDUM upon request.
Listing courtesy of CHTMLS / Clear Path Realty and Development
Last checked:
Checking…
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Last updated Nov 7, 2024
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MLS# 1502753 —
The Building
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Year Built:None
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Year Built Effective:None
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New Construction:No
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Builder Name:None
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Architectural Style:None
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Structure Type:None
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Construction Materials:None
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Levels:None
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Stories:None
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Stories Total:None
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Roof:None
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Patio And Porch Features:None
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Basement:No
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Basement:None
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Foundation Details:None
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Exterior Features:None
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Window Features:None
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Accessibility Features:None
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Building Area Total:None
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Above Grade Finished Area:None
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Below Grade Finished Area:None
Interior
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Interior Features:None
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Furnished:None
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Flooring:None
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Fireplace:No
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Fireplaces Total:None
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Fireplace Features:None
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Laundry Features:None
Room Dimensions
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Living Area:None
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Living Area Units:None
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Living Area Source:None
Location
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Directions:Head west on Frazier Ave toward Tampa St. Turn Right on Forest Ave. Destination is on the left about .3 miles.
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Latitude:35.067361
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Longitude:-85.305821
The Property
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Parcel Number:135d R 007
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Property Type:Land
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Property Condition:None
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Property Subtype:Unimproved Land
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Direction Faces:None
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Possible Use:Multi-Family, Residential
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Lot Size Source:None
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View:true
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Lot Features:Cleared, Gentle Sloping, Views
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View:Downtown, River
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Lot Size Acres:0.57
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Lot Size Area:0.57
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Zoning:R-3
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Lot Size SqFt:24829.2
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Lot Size Units:Acres
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Zoning Description:Residential Apartment/Townhouse District
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Topography:None
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Other Structures:Residence
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Other Equipment:None
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Fencing:None
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Pool Private:No
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Pool Features:None
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Waterfront:false
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Additional Parcels:false
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Road Frontage Type:City Street
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Road Surface Type:Paved
Listing Agent
- Contact info:
- Agent phone:
- (423) 605-6980
- Office phone:
- (423) 708-2338
Taxes
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Tax Legal Description:s 17&18 Blk F Frazier & Colvilles Addn To Hill City Amended Pb4 Pg28
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Tax Annual Amount:3957.8
Beds
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Bedrooms Total:None
Baths
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Full Baths:None
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Half Baths:None
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Three Quarter Baths:None
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Quarter Baths:None
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Partial Baths:None
The Listing
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Home Warranty:No
Heating & Cooling
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Heating:No
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Heating:None
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Cooling:No
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Cooling:None
Utilities
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Utilities:Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
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Water Source:Public
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Sewer:Public Sewer
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Electric:None
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Green Sustainability:None
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Green Energy Efficient:None
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Green Energy Generation:None
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Green Water Conservation:None
Appliances
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Appliances:None
Schools
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Elementary School:Normal Park Elementary
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Elementary School District:None
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Middle Or Junior School:Normal Park Upper
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Middle Or Junior School District:None
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High School:Red Bank High School
The Community
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Subdivision Name:Frazier & Collvilles
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Senior Community:false
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Community Features:Sidewalks
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Spa:No
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Spa Features:None
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Pets Allowed:None
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Association:false
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Association Fee 2:None
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Association Fee 2 Frequency:None
Parking
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Garage:No
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Garage Spaces:None
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Attached Garage:No
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Carport:No
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Carport Spaces:None
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Parking Features:None
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
11/5/24
Nov 5, 2024
|
Listed / Active | CHTMLS | $1,750,000 |