East Chattanooga Rental Portfolio
Chattanooga Value-add SF / MF Rental Portfolio
Marketing description
Fletcher Bright Realty is pleased to present the exclusive offering of the East Chattanooga Rental Portfolio - a 26-property, 30-unit residential rental collection comprising 21 single-family homes and 4 duplexes located across established Chattanooga submarkets in Hamilton County, Tennessee.
The portfolio is offered at $3,500,000 on a bulk-only basis - representing roughly $134,615 per home, $104 per building square foot, and ~$41,667 per bedroom, against a Hamilton County median single-family sale price of $340,000 (+3.0% YoY).
This is a true value-add repositioning play. The emphasis of this offering is the opportunity - not current or historical cash flow. The vast majority of these assets are pre-1950 vintage and have been operated as workforce / Section 8 rentals at rents materially below the current Chattanooga single-family rental range of $1,633 - $3,117 / month.
The combination of (1) a low per-bedroom basis, (2) a substantial mark-to-market rent gap on renovated stock, (3) consolidated geography in a population center growing +18% by 2035, and (4) the ability to acquire scale in a single transaction make this portfolio uniquely positioned for an investor with renovation capital and a 3-5 year repositioning horizon.
Investment highlights
- Acquire 26 properties / 30 units / 84 bedrooms in one closing. Achieving this level of scale on the open market would require 26 separate transactions over multiple years.
- Chattanooga single-family rents currently range $1,633 - $3,117 per month. The portfolio has historically operated as workforce / Section 8 rentals at rents materially below this range, providing immediate upside on stabilized renovated stock.
- At $41,667 per bedroom and $104 per building square foot, the portfolio is priced well below the Hamilton County median single-family sale price of $340,000.
- All 26 properties are located within the City of Chattanooga and Hamilton County, across established residential submarkets. Concentration drives renovation efficiency and property management economies.
- City population projected to grow from 181,671 (2025) to 214,382 by 2035 - a +18% decadal expansion. Volkswagen's Chattanooga assembly plant celebrated its 15-year anniversary in 2026 with continued workforce investment.
- 4.62 acres of land (201,455 SF) across 26 parcels - at $3.5M the offering implies roughly $783K per acre of urban Chattanooga land, before any value attributed to the existing improvements.
- Classic value-add execution: deploy $25-50K per door of renovation capital, restore asset quality, push rents to market, and refinance to recoup investment. Hold or selectively dispose at stabilized retail.
- On the back end, the new owner can hold for stabilized cash flow, refinance, sell as a stabilized portfolio to an institutional rental operator, or break up and sell individual homes at retail to owner-occupants.
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