515 Forest Avenue

Chattanooga, TN 37405

$1,750,000
Price
24,829 / 0.57
Lot Size / Acres
Subject with View
lot lines-01
Parcel Measurements
Location - Copy
Location 2
Landmarks
Retail Map
Topography Map
dji_0534
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Description

This property boasts R3 zoning, offering a rare and unique advantage in an area largely dominated by high-end single-family homes, which have an average sales price of $634,871. The R3 zoning allows for both single-family, townhomes and multi-family dwellings. The property currently features a quadplex, with month-to-month leases in place for two tenants. This arrangement provides developers with the flexibility to promptly demolish the structure and clear the lot for future development. Moreover,...This property boasts R3 zoning, offering a rare and unique advantage in an area largely dominated by high-end single-family homes, which have an average sales price of $634,871. The R3 zoning allows for both single-family, townhomes and multi-family dwellings. The property currently features a quadplex, with month-to-month leases in place for two tenants. This arrangement provides developers with the flexibility to promptly demolish the structure and clear the lot for future development. Moreover, all utilities are already in place for the site. Chattanooga is currently facing a significant housing shortage while experiencing rapid growth. This development presents a prime opportunity to meet the rising demand for residential in the city. Looking ahead to May 2025, the Chattanooga housing market is projected to grow by 0.4%. Located in the heart of the expanding Northshore district along Forest Ave, this site not only offers a prime location—a stone's throw from the vibrant heart of the city—but also boasts scenic city views. Residents can enjoy walking, biking, or easy driving access to Northshore, downtown, and Southside hotspots, including trendy restaurants, lounges, music venues, the Walnut Street walking bridge, Coolidge Park, the Riverfront, the Aquarium. The dynamic Northshore district provides convenient access to essential amenities such as Publix, Walgreens, Walk-In clinic, various fitness options, banks, and a post office, all while being at the center of excitement and growth. The Normal Park Museum Magnet School, located within the neighborhood bounds, serves students in kindergarten through eighth grade. Normal Park, which received an A-minus from Niche. OFFERING MEMORANDUM upon request.
  1. Listed by Anne Najjar • Clear Path Realty and Development

Property Details for 515 Forest Avenue

Zoning
R-3
Waterfront
No
LISTING UPDATED: 11/06/2024 10:45 AM

Property Details for 515 Forest Avenue

StatusActive
MLS #1502753
Days on Market10
Taxes$3,958 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand / Unimproved Land
Year Built-
Lot Size0.57 AC
CountyHamilton County

Building Information for 515 Forest Avenue

Lot Size0.57 AC

Property Information for 515 Forest Avenue

Summary
Location and General Information
  • City: Chattanooga
  • County Or Parish: Hamilton
  • Directions: Head west on Frazier Ave toward Tampa St. Turn Right on Forest Ave. Destination is on the left about .3 miles.
  • Latitude: 35.067361
  • Longitude: -85.305821
  • Postal Code: 37405
  • State Or Province: TN
  • Subdivision Name: Frazier & Collvilles
  • Location Tax Legal Info : Zoning: R-3
Taxes and HOA
  • Tax Legal Description: s 17&18 Blk F Frazier & Colvilles Addn To Hill City Amended Pb4 Pg28
  • Additional Parcels: No
  • Parcel Number: 135d R 007
  • Association Fee: $0
  • Association: No
  • Tax Annual Amount: $3,958
School Information
  • Middle Or Junior School: Normal Park Upper
  • High School: Red Bank High School
  • Elementary School: Normal Park Elementary
Property
Lot Information
  • Lot Features: Cleared, Gentle Sloping, Views
  • Lot Size Acres: 0.57
  • Lot Size Square Feet: 24829.2
  • Lot Size Units: Acres
Property and Assessments
  • Property Type Label: Land
  • Floor Plans Count: 0
  • Property Type: Land
  • Property Sub Type: Unimproved Land
  • Improvements : None: Yes
Utilities
  • Water Source: Public
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Interior and Exterior Features
Exterior Features
  • Senior Community: No
  • Community Features: Sidewalks
  • Exterior Features: None
  • Structures : Residence: Yes
Interior Features
  • Bathrooms Total Integer: 0
  • Bathrooms Total Decimal: 0.0
  • Bathrooms Total Notational: 0.0
  • Other Equipment: None
  • Bed/Bath : None: Yes
Rental
Rental Information
  • Tenant Pays : None: Yes

Property History for 515 Forest Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 515 Forest Avenue

Taxable ValueLand-Additions-Total-
Tax Record2023$1,973 ($164 / month)
Home Facts
Total Finished SqFt2,424 SqFtAbove Grade Finished SqFt2,424 SqFtStories1Lot Size18,824 SqFtStyleTriplexYear Built1890Year Renovated1977ZoningR2CountyHAMILTONAPN135D R 007

Schools near 515 Forest Avenue

This home is within Hamilton County School District.
Rating
School
Type
Grades
Distance
Normal Park Museum Magnet School
Public - PK to 8
Red Bank High School
Public - 9 to 12
Chatt High Center For Creative Arts
Public - 6 to 12
Chattanooga School For The Arts And Science Csas L
Public - K to 5
Rating
School
Distance
Normal Park Museum Magnet School
PublicPK to 8

Red Bank High School
Public9 to 12

Chatt High Center For Creative Arts
Public6 to 12

Chattanooga School For The Arts And Science Csas L
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 515 Forest Avenue, Chattanooga, TN 37405

515 Forest Avenue is a 0.57 ac of land for sale in Chattanooga, TN 37405. This property was listed for sale on November 5, 2024 by Clear Path Realty and Development, it's currently listed at $1,750,000. This listing's school district is Hamilton County School District. Nearby schools include Normal Park Museum Magnet School, Red Bank High School and Chatt High Center For Creative Arts. 515 Forest Avenue is a 0-bed, 0-bath, 0.57 ac of land on a 24,829 sq. ft. / 0.57 acres lot.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Clear Path Realty and Development, Anne Najjar (423.605.6980)

The information is being provided by MTRMLS, Inc. Properties marked with the MTRMLS logo are provided courtesy of the RealTracs Internet Data Exchange Program. Information is believed to be accurate but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2024 MTRMLS, Inc. All Rights Reserved. Last updated: 11/06/2024 10:45 AM