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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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$150,000

5 Franklin Place

2,724 Sq.Ft.

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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

Property Amenities

Area & Lot
Total area 2,724 Sq.Ft.
Living area 2,724 Sq.Ft.
MLS® ID 3132231
Year Built 1930
High School East Ridge High School
Middle School East Ridge Middle School
Elementary School East Ridge Elementary School
Type Residential
Status For Sale
Exterior
Stories 1
Air conditioning Wall/Window Unit(s)
Heat type Electric
Water Source Public
Sewer Public Sewer
Parking Detached, Attached, Driveway
Roof Metal
Utilities Electricity Available, Water Available
Finance
Sales Price $150,000
Real Estate Tax $1,264 yearly
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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.

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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Contact Details

DUSTIN MULLINS

M: (423) 991-4806
O: (423) 265-0088
[email protected]

DOWNTOWN OFFICE 525 W Main St Chattanooga TN 37402