3332 Roadrunner Trail

Property Description

Discover an exceptional investment opportunity at the edge of Missionary Ridge. Situated on the mountainside in East Lake, this 8-unit complex boasts ample land to double the unit number. Recently undergoing a complete renovation, the final touches are being applied to the last unit, promising completion within weeks. The property shines with luxury vinyl flooring, custom cabinetry, formica countertops, and extensive mechanical enhancements, presenting itself in pristine condition. A significant investment of over $150,000 has been made in constructing a concrete driveway, parking, and steps, elevating the infrastructure quality. The complex offers a mix of spacious living accommodations, including two 3-bedroom units and six 2-bedroom units, most featuring 1 1/2 bathrooms. Each two-story unit is designed for comfort, with a generous living area, a half-bath, and a large eat-in kitchen on the first floor. Historically achieving full occupancy, one unit, in particular, has served as a successful mid-term rental over the past year, averaging $1,500 per month in revenue. Long-term rental rates vary between $940 and $1,300 per month. Located conveniently close to downtown and all three major hospitals, the property is perfectly positioned to cater to the needs of traveling medical professionals seeking mid-term rental options. Nestled at the end of a quiet dead-end street, it offers tenants a peaceful living environment with minimal traffic noise and picturesque views of downtown. This complex not only promises the potential for rental rate increases but also minimal maintenance requirements for the foreseeable future, marking it as a steadfast investment opportunity. An available short-term rental unit is open for preview. Interested parties are encouraged to contact us for a private showing and to explore the unique prospects this property offers.

Overview

Property Status

Sold

Date Sold

August 13, 2024

MLS ID

2699141

Property Type

Residential

Year Built

1973

Are you interested?

Schedule a Tour

Grace Frank

(423) 544-7156 [email protected]

Features & Amenities

Total Area

8,336 Sq.Ft.

Stories

Water Source

Public

Utilities

Water Available

Roof

Metal

Parking

Detached

Heat Type

Central, Electric

Air Conditioning

Central Air, Electric

Elementary School

East Lake Elementary School

Middle School

East Lake Academy Of Fine Arts

High School

Howard School Of Academics Technology

Sales Price

$1,100,000

Real Estate Tax

$6,012/yr

Schedule a Tour

We would love to help you see this beautiful home! As a full-service brokerage, we can help you tour. Please submit an offer, and answer questions about the buying process.

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for your interest in 3332 Roadrunner Trail, Chattanooga, TN 37407

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