Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
2004
Sq.Footage
2,328
Incredible opportunity to purchase two duplexes in East Lake with excellent rental income history. 1201 & 1203 E 34th St are neighboring two-story duplexes being sold together as a package deal; both were built in 2004 and feature 2,328 sqft and low maintenance brick and vinyl siding exteriors. All four units boast 3 bedrooms, 2 full bathrooms, living rooms, eat-in kitchens, off-street parking, and access to the large fenced yard. Additionally, they are adjacent to a city park. A contract expiring 8/29/39 with the Chattanooga Housing Authority provides for project based vouchers for these rental units (vouchers go with the property, not the tenants). These vouchers provides a gross monthly income of up to $929 per unit even during periods of vacancy (up to 60 days) which ensures consistent cash flow and minimizes some of the risk associated with investment properties. The duplexes are currently 100% occupied with a $3,488 GMI.
Features & Amenities
Interior
Area & Lot
-
Property Type
Residential Income
Exterior
-
Garage
No
-
Construction Materials
Other, Brick
-
Parking
Detached
Financial
-
Sales Price
$498,000
-
Tax Amount
2196
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Location
County
Hamilton County, TN
Elementary School
Calvin Donaldson Elementary
Middle School
East Lake Academy Of Fine Arts
High School
Howard School Of Academics Technology
Listing Courtesy of Grace Frank
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Broker Associate
StarlingDavis
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