621 Fortwood Place
Chattanooga, TN 37403
- – beds
- – baths
- 4,207 sqft
- 1,655 sqft lot
- $225 per sqft
- 1920 build
- – on site
**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.
Last checked:
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Last updated Feb 15, 2025
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MLS# 1507504 —
The Building
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Year Built:1920
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New Construction:false
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Builder Name:None
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Structure Type:Multi Family, Quadruplex
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Construction Materials:Brick, Stucco
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Levels:Three Or More
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Stories:3
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Stories Total:None
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Roof:Composition
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Basement:Finished, Full
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Basement:true
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Exterior Features:Awning(s), Private Entrance
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Window Features:Bay Window(s)
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Patio And Porch Features:Covered, Front Porch
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Building Area Total:4207.0
Interior
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Interior Features:Breakfast Nook, Built-in Features, Chandelier, Double Closets, Entrance Foyer, High Ceilings, Recessed Lighting, Stone Counters, Tub/shower Combo
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Furnished:None
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Flooring:Hardwood, Tile
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Fireplace:true
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Fireplaces Total:2
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Fireplace Features:Basement, Bedroom
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Laundry Features:In Unit, Multiple Locations
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Zoning Description:None
Room Dimensions
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Living Area:4207.0
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Living Area Units:None
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Living Area Source:Appraiser
Location
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Directions:From Downtown Chattanooga, head East on McCallie Ave for 0.8 miles, turn LEFT on Fortwood Place. The property will be on the LEFT in 492 feet, at the corner of Fortwood Place and Clark Street.
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Latitude:35.043854
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Longitude:-85.292117
The Property
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Parcel Number:146a D 021
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Property Type:Residential Income
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Property Subtype:Quadruplex
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Property Condition:Updated/Remodeled
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Direction Faces:None
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Possible Use:None
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Lot Size Acres:0.04
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Lot Size Area:0.04
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Lot Size Dimensions:50X33
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Lot Size SqFt:1655.28
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Lot Size Units:Acres
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Lot Size Source:None
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Zoning:None
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Topography:None
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View:false
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Pool Private:No
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Waterfront:false
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Road Frontage Type:City Street
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Road Surface Type:Paved
Listing Agent
- Contact info:
- Agent phone:
- (202) 368-1220
- Office phone:
- (615) 383-3142
Taxes
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Tax Legal Description:PT LT 22 RICHMONDS ADDN PB1 PG34
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Tax Annual Amount:4523.2
Baths
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Three Quarter Baths:None
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Quarter Baths:None
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Partial Baths:None
Heating & Cooling
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Heating:Central, Electric, Natural Gas, Separate Meters, Multi Units
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Heating:true
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Cooling:Central Air, Electric
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Cooling:true
Utilities
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Utilities:Electricity Available, Natural Gas Available, Water Available
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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 Energy Generation:None
Appliances
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Appliances:Smart Appliance(s), Washer, Stainless Steel Appliance(s), Self Cleaning Oven, Refrigerator, Microwave, Exhaust Fan, ENERGY STAR Qualified Appliances, Electric Water Heater, Electric Range, Electric Oven, Dryer, Disposal, Dishwasher
Schools
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Elementary School:Brown Academy
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Elementary School District:None
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Middle Or Junior School:Orchard Knob Middle
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Middle Or Junior School District:None
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High School:Howard School of Academics & Tech
The Community
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Subdivision Name:Fort Wood
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Senior Community:false
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Community Features:Historic District, Sidewalks
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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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Attached Garage:false
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Parking Features:On Street
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 |
---|---|---|---|---|
2/15/25
Feb 15, 2025
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Listed / Active | CHTMLS | $949,999 | 163.9% (50.7% / YR) |
11/22/21
Nov 22, 2021
|
REALTRACS | $360,000 |