4 Beds
4 Baths
2,600 SqFt
4 Beds
4 Baths
2,600 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,600 sqft
Price per Sqft $228
MLS Listing ID 1539115
Bedrooms 4
Year Built 2025
Lot Size 0.400 Acres
Acres 0.4
Property Sub-Type Quadruplex
Source Greater Chattanooga REALTORS®
Property Description
Exceptional opportunity to acquire a fully leased, newly constructed quadplex completed in 2025 at 60 Phillips Road on Lookout Mountain, Georgia. Purposefully designed to serve the growing demand for student, faculty, young professional, and recent graduate housing, this income-producing asset is located less than four miles from Covenant College, which is welcoming its largest incoming freshman class in school history.
The property consists of four modern residential units:
• Two 1-bedroom, 1-bath units (500 SF each) • Two 1-bedroom, 1-bath units with lofts (800 SF each)
Currently generating $4,535 per month in rental income ($54,420 annually), the property offers investors immediate cash flow with the added benefits of brand-new construction, no deferred maintenance, and low operating expenses for years to come.
At the asking price of $595,000, the property is offered at an attractive basis for a newly built multifamily asset in one of the Chattanooga area's most desirable and supply-constrained submarkets. The mix of standard and loft-style units broadens tenant appeal and supports long-term occupancy stability.
Residents enjoy convenient access to Covenant College, downtown Chattanooga, Trenton, major employers, and the outdoor amenities that make Lookout Mountain one of the region's most sought-after residential locations.
Investment highlights include:
• Fully leased and income-producing • $54,420 annual gross rental income • Brand-new 2025 construction • Four highly efficient one-bedroom units (The two upstairs units have additional loft spaces that can function as additional bedrooms.) • Strong demand from Covenant College students, staff, and recent graduates • Low-maintenance asset with modern systems and finishes • Less than 4 miles from Covenant College. Opportunity for future rent growth in a market with increasing housing demand. Separate utility meters OWNER/AGENT
Location
State GA
County Dade
Area 0.4
Rooms
Basement Crawl Space
Interior
Heating Central, Electric
Cooling Central Air, Electric
Inclusions Appliances
Fireplace No
Appliance Washer/Dryer, Refrigerator, Microwave, Free-Standing Electric Range, Exhaust Fan, Electric Water Heater
Heat Source Central, Electric
Laundry Electric Dryer Hookup, In Unit, Main Level
Exterior
Parking Features Off Street, Parking Lot
Garage Spaces 1.0
Garage Description Off Street, Parking Lot
Roof Type Shingle
Porch Porch - Covered
Total Parking Spaces 1
Garage Yes
Building
Faces Drive up ochs Hwy until you reach the top. Turn Right onto Scenic Hwy (GA-157 S).Follow Scenic Hwy for approximately 3 miles. Turn Left onto Phillips Rd.
Sewer Septic Tank
Water Public
Schools
Elementary Schools Dade County Elementary
Middle Schools Dade County Middle
High Schools Dade County High
Others
Senior Community No
Tax ID 056 00 119 01
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Investor
Nearby Locations
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