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Listed by Dustin Mullins • Real Estate Partners Chattanooga, LLC
$ 150,000
Est. payment /mo
Active
5 Franklin Place Chattanooga, TN 37412
2,724 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,724 sqft
Price per Sqft $55
Subdivision Hewitt Wilson Etal
MLS Listing ID 3132231
HOA Y/N No
Year Built 1930
Annual Tax Amount $1,264
Lot Dimensions 72.5X126
Property 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.
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.
Location
State TN
County Hamilton County
Interior
Heating Electric
Cooling Wall/Window Unit(s)
Fireplace N
Exterior
Utilities Available Electricity Available, Water Available
View Y/N false
Roof Type Metal
Private Pool false
Building
Story 1
Sewer Public Sewer
Water Public
Structure Type Aluminum Siding,Other
New Construction false
Schools
Elementary Schools East Ridge Elementary School
Middle Schools East Ridge Middle School
High Schools East Ridge High School
Others
Senior Community false
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