SOLD!!!b876 OAK STREET, CHATTANOOGA, TN

June 17, 2020September 9, 2021 rpullen

Welcome to 876 Oak Street, Fairview Apartments, located in the beautiful Fortwood Historic District of downtown Chattanooga. This apartment building has an abundance of character throughout. It features hardwood floors, tall doorways, high ceilings and a beautiful staircase. Don’t miss this opportunity to own property in historic Fortwood! This apartment building offers the perfect blend of charm and character with modern conveniences of today. This five unit apartment building is situated on the corner of Oak Street and Fortwood Pl. Each spacious unit features two bedrooms and two full bathrooms, living room, kitchen and washer and dryer hook ups. The apartment building has a total of five units, two units are on the main level, two units are on the second floor and there is one unit in the basement. All units are currently tenant occupied with a gross monthly income Of $4,800. On the rear of the building, there is a parking lot for the tenants. The back of the building also has a staircase that leads a second entrance for the units on the first and second level. This would be a great opportunity for an investor but also a great opportunity for an owner occupant who would like to live in one unit and rent out the rest of the units. The apartment building is in walking distance to UTC, just minutes away from hospitals and close to downtown dining, shopping and entertainment. Free Home Values

HISTORY OF THE BUILDING:

For several years, the building was inhabited by vagrants, Then in 1981, the building was purchased by CHA. At the time, it was sold basically for the price of the land. CHA’s goal was to help revitalize the neighborhood. Their plan was to turn it into 4 luxury apartments. This was one of four buildings purchased by CHA at the time for renovation. The current sellers purchased the building when each unit was considered individual condos. Now the building has 5 units instead of 4 units and each is now an apartment.

FORTWOOD HISTORIC DISTRICT

According to Wikipedia:

“Fort Wood Historic District is a historic neighborhood in Chattanooga, Tennessee. It is bounded roughly by Palmetto Street, McCallie Avenue, East 4th Street, and O’Neal Street, just east of the campus of the University of Tennessee at Chattanooga. “

“A fortification during the Civil War, Fort Wood was constructed by Union Army in 1863. The National Park Service has placed several war-era cannons in the neighborhood.^[1] In the 1880s, the fort and surrounding land was auctioned off. In time, Fort Wood became one of Chattanooga’s finest residential neighborhoods. Large, fashionable homes soon appeared in the Queen Anne, Tudor Revival, and Romanesque Revival styles.”

“Fort Wood’s revitalization began with the Warner House at the corner of Vine and Palmetto Streets. Also, the City Council gave the Fort Wood area statutory zoning protection and many more houses were under renovation. Today, many of the homes in Fort Wood have been converted into apartments. Indeed, student apartments in this area are highly sought after by UTC students who wish to live off, but close to, the campus.”

“On April 17, 1979, Fort Wood Historic District was added to the National Register of Historic Places.”

Presented By:

Rolanda Pullen Daniel

REALTOR
Coldwell Banker Pryor Realty
423-596-1568
Licensed In: Tennessee
License #: 280536