2133 West Madison Avenue
- • 1.9± acre site with additional multifamily density potential
- • Existing 4-plex provides immediate in-place income
- • Planned expansion to four additional 6-unit buildings (24 additional units)
- • Plans already prepared, allowing a buyer to move directly into permitting and development
- • Phased construction opportunity, build while maintaining current cash flow
- • Scalable project size, grow from a small asset to a 28-unit community
- • Limited new workforce housing supply in the immediate trade area
- • Located minutes from downtown, retail, schools, and major employers
- • Strong access to primary corridors and convenient to I-75
- • Attractive option for investors seeking a covered land play rather than raw development
- • Ability to improve operational efficiencies as additional buildings are delivered
- • Positioned for long-term rent growth and appreciation as units are added
Property Description
This is a unique opportunity to acquire a small multifamily asset with a very clear path to scale in a tight rental market. The property includes an existing four-unit building that is producing income today, but the real opportunity is the ability to expand the site with four additional six-unit buildings. An investor can hold and operate the current units while building out the remainder of the project in phases. The area continues to show steady rental demand driven by nearby employers and commuters between Chattanooga and Knoxville, with very limited new workforce housing supply. This allows a buyer to step into immediate cash flow while creating a much larger multifamily footprint over time, improving operating efficiencies and long-term value as the project is completed.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $650,000 |
| No. of Units: | 4 |
| Year Built: | 1987 |
| Lot Size: | 1.90 Acres |
| Opportunity Zone: | No |
| Price per unit: | $162,500 |
| Property Website | Click Here |
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