Welcome to Olde Town Flats, a historic gem nestled in the heart of Chattanooga, Tennessee. This 1920-built property offers a unique and lucrative investment opportunity for savvy investors seeking value-add potential. There has already been a substatial amount of capital investment in the property making 4 of the units turn key and rent ready. The remaining units present an exiting opportunity for you to add value and maximize your investment over time.
- Unit Composition: 9 units in total
- 7 one-bedroom units
- 1 two-bedroom unit
- 1 studio unit
- Recent Updates: 4 units meticulously renovated, including 2 taken down to the studs.
- HVAC Systems: 4 mini-split systems in place, ensuring efficient and individualized climate control for each unit.
- Utilities: Separate electric meters for each unit, enhancing tenant responsibility and reducing owner expenses.
- Water Management: Master water paid by the seller with a RUBS (Ratio Utility Billing System) in place for most tenants, optimizing cost distribution.
- Technological Advantage: EPB fiber optic internet systems installed, providing tenants with high-speed connectivity and adding an attractive feature for modern living.
- Windows: Partial replacement of windows, enhancing energy efficiency and aesthetic appeal.
- Electrical Upgrades: New electrical system throughout the property, ensuring safety and compliance with modern standards.
- Plumbing: Extensive plumbing updates, including replacement of the main drain, minimizing maintenance concerns.
- Laundry Facility: A dedicated laundry facility located in the basement equipped with new coin-operated appliances, adding convenience for residents and an additional income stream for investors.
Chattanooga’s Olde Town Flats presents an exciting investment opportunity with substantial upside potential. The strategic updates and modern amenities make this property an attractive choice for investors looking to maximize returns through value-add initiatives. Don’t miss the chance to be a part of the flourishing Chattanooga real estate market. Contact us today to schedule a viewing and explore the vast potential that Olde Town Flats holds for your investment portfolio. This is your gateway to a promising future in multifamily real estate!