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5056 Shoals Lane

Chattanooga, TN 37416
  • $295,000
  • STATUS: Closed
  • ON SITE: 215 Days
  • MLS #: 1395430
Sold - 08/28/2024
$295,000
SOLD - 08/28/2024
  • 0
    BEDS
  • 0.35
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,220
    SQFT
  • $0
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1971
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

Multiple Offers Received and seller is calling for highest and best by noon Saturday July 13th. Attention investors! Don't miss out on this investment opportunity in Chattanooga, Tennessee just minutes away from Chickamauga Lake in the Hwy 58 area! This duplex currently has a gross monthly rent of $2525. 5056 and 5058 rented at $1250 each (5056 has a pet rent of $25/mo), 1 year leases are up in 8/31/24 and both units include new HVAC. There is potential to increase gross monthly rents to $2560+ since the 2024 HUD Small Area Fair Market Rents are $1,280 for a 2 bedroom unit in 37416. The property is professionally managed by a property management firm. Offers will need a contingency to view within the due diligence period. Please do not disturb tenants.

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Chattanooga Association of Realtors logo
www.chattanoogahomes4sale.com/homes/152483491
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5056 Shoals Lane Chattanooga, TN 37416

  • Price: $295,000
  • Status: Closed
  • On Site: 215 Days
  • Updated: 235 min ago
  • MLS #: 1395430
0
Beds
0
Baths
0
½ Baths
0.35
Acres
2,220
SQFT
$0
$/SQFT
1971
Built
Neighborhood:
Lake Shoals
County:
Hamilton
Area:
Chattanooga
Elementary School:
Harrison Elementary
Middle School:
Brown Middle
High School:
Central High School
Property Description
Multiple Offers Received and seller is calling for highest and best by noon Saturday July 13th. Attention investors! Don't miss out on this investment opportunity in Chattanooga, Tennessee just minutes away from Chickamauga Lake in the Hwy 58 area! This duplex currently has a gross monthly rent of $2525. 5056 and 5058 rented at $1250 each (5056 has a pet rent of $25/mo), 1 year leases are up in 8/31/24 and both units include new HVAC. There is potential to increase gross monthly rents to $2560+ since the 2024 HUD Small Area Fair Market Rents are $1,280 for a 2 bedroom unit in 37416. The property is professionally managed by a property management firm. Offers will need a contingency to view within the due diligence period. Please do not disturb tenants.
Exterior Features

Architectural Style [] Attached Garage YN No Carport YN No Construction Materials Brick Exterior Features [] Fencing [] Foundation Details [] Garage YN No Lot Features Gentle Sloping Other Structures [] Parking Features Off Street Patio And Porch Features [] Pool Features [] Roof Shingle Roof Shingle Yes Structure Type [] View [] View YN No Waterfront Features [] Waterfront YN No

Interior Features

Accessibility Features [] Appliances [] Basement Partial Basement YN Yes Building Area Total 2220 Cooling Central AirElectric Cooling YN Yes Fireplace Features [] Fireplace YN No Flooring [] Heating CentralElectric Heating YN Yes Interior Features Eat-in Kitchen Laundry Features [] Levels Two Window Features []

Property Features

Association Amenities [] Association YN2 No Auction YN2 No Community Features None Green Energy Efficient [] Green Sustainability [] Green Water Conservation [] Listing Terms CashConventional New Construction YN No Other Equipment [] Property Sub Type Duplex Security Features [] Senior Community YN No Sewer Septic Tank Special Listing Conditions Investor Tax Annual Amount 1226.14 Utilities [] Water Source []

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Listing information © 2025 The Multiple Listing Service of Chattanooga, Inc.
Listing courtesy of Real Broker: 844-591-7325.



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Denise Murphy with Keller Williams Realty
5008 Austin Road
Hixson TN, 37343