7822 Basswood Drive 7822/7824, Chattanooga, TN 37416
- $249,900
- 4
- BD
- 2
- BA
- 1,868
- SqFt
- List Price
- $249,900
- MLS#
- 1543517
- Bedrooms
- 4
- Sq. Ft
- 1,868
- Acres
- 0.31
- Year Built
- 1969
Property Description
This duplex offers a solid opportunity for an investor looking for immediate rental income with additional upside over time. Each unit features 2 bedrooms and 1 bathroom, and both units are currently occupied with leases in place. One unit is leased on a 6-month term at $1,150/month and features recently updated flooring throughout, a new bathroom vanity, a refrigerator, and washer/dryer hookups. The second unit is currently leased month-to-month at $1,000/month and also includes a refrigerator and washer/dryer hookups. Tenants pay all utilities, and each unit is individually metered. Current gross monthly rent is $2,150, producing $25,800 in gross annual rental income. With two separately metered 2BR/1BA units, established tenants, and tenant-paid utilities, the property provides in-place cash flow from day one. The month-to-month lease also gives a future owner flexibility to evaluate rental rates and pursue additional income potential over time, subject to applicable lease terms and market conditions. The property is conveniently located near major employers including Amazon and Volkswagen, with access to nearby interstate routes and surrounding areas. This location may help support continued rental demand while giving tenants convenient access to employment, shopping, and everyday amenities. Whether you're looking to expand your rental portfolio or acquire a duplex with existing cash flow and room for future upside, this property is ready for its next owner. Tenant-occupied units require advance notice for showings. Please do not disturb tenants. Owner/Agent Listing
Additional Information
- Style
- Other
- Exterior
- Brick, Concrete, Vinyl Siding
- Interior
- Sitting Area, Plumbed
- Roof
- Shingle
- Floors
- Vinyl
- Foundation
- Concrete Perimeter, Slab
- Basement
- None
- Appliances
- Dishwasher, Free-Standing Refrigerator, Gas Water Heater, Oven, Refrigerator, Range Hood
- Exterior Features
- None
- Community Features
- Curbs
- Lot Description
- City Lot, Front Yard, Many Trees, Sloped
- Pool Description
- None
- Cooling
- Varies by Unit
- Heating
- Electric, Hot Water
- Elementary School
- Harrison Elementary
- Middle School
- Brown Middle
- High School
- Central High School
- Financing Available
- Cash, Conventional, VA Loan
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Listing courtesy of REAL Broker.