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Turnkey New Construction Quadplex | $54,420 Annual Rental Income | Near Covenant College
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
Multi Family
| Last Updated | 7/20/2026 | Tract | None |
|---|---|---|---|
| Year Built | 2025 | Garage Spaces | 1.0 |
| County | Dade |
SCHOOLS
| Elementary School | Dade County Elementary |
|---|---|
| Jr. High School | Dade County Middle |
| High School | Dade County High |
Additional Details
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater, Exhaust Fan, Free-Standing Electric Range, Microwave, Refrigerator, Washer/Dryer |
| BASEMENT | Crawl Space |
| GARAGE | Yes |
| HEAT | Central, Electric, Exhaust Fan |
| LOT | 0.4 acre(s) |
| LOT DIMENSIONS | 0.4 |
| PARKING | Off Street, Parking Lot |
| SEWER | Septic Tank |
| STORIES | 2 |
| STYLE | Quadruplex |
| SUBDIVISION | None |
| TAXES | 109.36 |
| WATER | Public |
Location
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This site was last updated on 7/29/26 1:29 AM PDT
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