Chattanooga, TN 37412,3206 Gleason DR
Chattanooga, TN 37412,3206 Gleason DR
Chattanooga, TN 37412,3206 Gleason DR
Chattanooga, TN 37412,3206 Gleason DR
Chattanooga, TN 37412,3206 Gleason DR
Chattanooga, TN 37412,3206 Gleason DR
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$269,500

$269,500

Est.Price: ?

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Est. payment /mo

1,860 SqFt


SOLD DATE : 01/26/2024

Key Details

Sold Price $269,500

Property Type Multi-Family

Sub Type Duplex

Listing Status Sold

Purchase Type For Sale

Square Footage 1,860 sqft

Price per Sqft $144

MLS Listing ID 1384113

Sold Date 01/26/24

Originating Board Greater Chattanooga REALTORS®

Year Built 1985

Lot Size 10,454 Sqft

Acres 0.24

Lot Dimensions 0.24

Property Description

Attention Investors!
Prime East Ridge Duplex with Strong Rental Potential

Welcome to 3206 Gleason Dr, a lucrative investment opportunity in East Ridge, Chattanooga. This well-maintained duplex currently generates $1,925 in gross monthly rent, with the potential for an impressive $2,400 in total income.
Key Features:
Current Rental Income: The property presently yields $1,925 in gross monthly rent, with unit A fetching $1,125 and unit B contributing $800. However, there is untapped potential for increased rent, positioning this duplex as an attractive investment.
Property Details: Each two-story unit spans 930 Sqft and features two bedrooms and one bathroom. Built in 1985, these residences offer a comfortable living space with a well-thought-out floor plan.
Prime Location: Conveniently located just off I-24 in East Ridge, these properties offer a peaceful residential setting with swift access to downtown Chattanooga and the bustling Hamilton Place area. This prime location enhances the property's appeal to potential tenants.
Occupancy and Maintenance: Both units are currently leased, ensuring a steady income stream for the investor. The residences have been well-maintained, requiring minimal upkeep and providing a hassle-free investment opportunity.

The seller requests the highest and best offer by Monday, December 18 2023, at 5:00 p.m. (EST). Time-Limit Responses by 11:00 a.m of December 19. The seller retains the right to accept an offer at any time.
Note: The seller wants to avoid dealing with escalating offers. Please advise your clients to submit their highest and best offer. Affordable Rental Rates: The current rental rates are positioned on the more affordable side within the neighborhood, allowing for potential increases in line with market trends. This flexibility provides room for optimizing returns.
Positive Growth Outlook: With the community experiencing growth, a positive outlook exists for continued appreciation of property values. This factor adds to the long-term investment potential of the property.
Contingency for Viewing: As the property is tenant-occupied, the seller requires an accepted offer with a contingency to view. This arrangement ensures respect for tenant privacy while facilitating a seamless transaction process.
Rental Breakdown for 3206 Gleason Dr:
3206 A: Month-to-month lease, generating $1,125 monthly rent.
3206 B: Month-to-month lease, contributing $800 to the monthly income.
Call for Inquiries and Offers:
Take advantage of this exceptional investment opportunity! Secure your future income with 3206 Gleason Dr. today

Location

State TN

County Hamilton

Area 0.24

Interior

Interior Features Eat-in Kitchen

Heating Central, Electric

Cooling Central Air, Electric

Fireplace No

Heat Source Central, Electric

Exterior

Garage Off Street

Garage Description Off Street

Community Features None

Utilities Available Sewer Connected

Roof Type Shingle

Parking Type Off Street

Garage No

Building

Lot Description Level

Faces Go to Ringgold Rd. West to South Seminole Dr, turn right onto South Seminole Dr, go approx 1/2 mile, and turn right onto Gleason Dr. Duplexes on the right.

Story Two

Foundation Slab

Water Public

Structure Type Brick,Other

Schools

Elementary Schools East Ridge Elementary

Middle Schools East Ridge Middle

High Schools East Ridge High

Others

Senior Community No

Tax ID 156l C 001

Acceptable Financing Cash, Conventional, FHA, VA Loan, Owner May Carry

Listing Terms Cash, Conventional, FHA, VA Loan, Owner May Carry

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Listed by Weichert Realtors-SEM Associates
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