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
