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5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
5 Franklin Place
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Courtesy of Dustin Mullins, Real Estate Partners Chattanooga LLC,423-991-4806
$150,000

5 Franklin Place

2,724 Sq.Ft. 9,135 Sq.Ft.

Description

Income-producing multi-family property with 2 of the 3 units rented month to month with LONG TERM TENANTS, each featuring one bedroom and one bathroom. This investment opportunity offers immediate cash flow with a gross monthly income of $1,440 per month, a 9.3% CAP RATE. Unit #1 was previously rented for $740 a month. With all 3 units rented out, the new owner could have a +/- 14% CAP RATE.

The property includes a metal roof, a convenient community laundry area, and owner-paid utilities. Whether you're looking to continue renting for a steady income, renovate and increase rents for greater returns, or even live in one unit while renting out the others to cover your mortgage, this property offers endless possibilities. Don't miss out on this versatile investment in a prime location! No showings without an accepted offer contingent on the buyer touring the property and approving the property.

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Location

5 Franklin Place, Chattanooga, TN 37412

Status

For Sale
Dustin  Mullins

Dustin Mullins

TITLE

REALTOR®

Property Amenities

Interior
Laundry room Common Area
Appliances Water Heater, Washer/Dryer, Refrigerator, Free-Standing Refrigerator, Electric Range, Dishwasher
Area & Lot
Total area 2,724 Sq.Ft.
Lot Area 9,135 Sq.Ft.
Living area 2,724 Sq.Ft.
MLS® ID 1528731
Year Built 1930
High School East Ridge High
Middle School East Ridge Middle
Elementary School East Ridge Elementary
Type Multi-Family
Status For Sale
Exterior
Stories 1
Air conditioning Multi Units, Window Unit(s)
Heat type Electric
Water Source Public
Sewer Public Sewer
Parking Driveway, Off Street
Lot Features Sloped, Split Possible
Roof Metal
Utilities Electricity Connected, Sewer Connected, Water Connected
Finance
Sales Price $150,000
Real Estate Tax $1,264 yearly
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Schedule a Showing

I would love to show you this beautiful property. Please select your preferred date and time below. I will be in touch shortly to confirm your appointment.

Thank you for your interest in 5 Franklin Place, Chattanooga, TN 37412. We are reviewing your request and will be in touch shortly!

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