45 Scruggs St, Chattanooga, TN 37403

Property Description

Excellent investment opportunity in the heart of Chattanooga! This 6-unit apartment complex is ideally located less than a mile from Erlanger Hospital, UTC, and Downtown Chattanooga, putting tenants within minutes of some of the city’s largest employers, schools, restaurants, entertainment, and amenities. The property consists of six 2-bedroom, 1-bath units, all of which have been freshly updated and are ready for new tenants. Each unit includes a refrigerator, oven, and stove. Five of the six units are currently vacant by design, making the property easy to show and giving the next owner the opportunity to immediately select their own tenants and establish leases at current market rents. Estimated market rents are approximately $1,000–$1,100 per month per unit, offering potential gross rental income of approximately $6,000–$6,600 per month when fully occupied. With updated units, a highly convenient location, and the ability to place new tenants immediately, 45 Scruggs Street could be an excellent fit for a first-time multifamily investor, an experienced investor looking to add to their portfolio, or a 1031 Exchange buyer looking to identify a replacement property before year-end. Turnkey units, strong rental potential, and an outstanding Chattanooga location—all in one property.