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Courtesy of Dustin Mullins, Real Estate Partners Chattanooga LLC,423-991-4806

For Sale

5 Franklin Place

5 Franklin Place, Chattanooga, TN 37412

$150,000

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.

Studio

2,724 Sq.Ft. LIVING AREA

9,135 Sq.Ft. lot

Dustin Mullins

title Affiliate Broker | The Dustin Mullins Team | Licensed in TN & GA
PHONE (423) 991-4806
EMAIL [email protected]
DRE # TN351594

Features & Amenities

Interior

total bedrooms0
Laundry room Common Area
APPLIANCES Water Heater, Washer/Dryer, Refrigerator, Free-Standing Refrigerator, Electric Range, Dishwasher

Area & Lot

Status For Sale
Living Area2,724 Sq.Ft.
Total Area2,724 Sq.Ft.
Lot Area9,135 Sq.Ft.
MLS® ID1528731
TypeMulti-Family
YEAR BUILT1930
NeighborhoodEast Ridge
Elementary SchoolEast Ridge Elementary
Middle SchoolEast Ridge Middle
High SchoolEast Ridge High

Exterior

STORIES1
water SourcePublic
utilitiesElectricity Connected, Sewer Connected, Water Connected
roofMetal
lot featuresSloped, Split Possible
parkingDriveway, Off Street
HEAT TYPEElectric
AIR CONDITIONINGMulti Units, Window Unit(s)
sewerPublic Sewer

Financial

Sales Price$150,000
Real Estate Tax $1,264/yr

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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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East Ridge

Just shy of the Georgia state line, East Ridge is nicknamed the Gateway to Tennessee as millions of travelers annually pass through this growing Chattanooga community.

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5 Franklin Place

$150,000

Dustin Mullins

Features & Amenities

Interior

Area & Lot

Exterior

Financial

Schedule a Showing

Schedule a Showing

Mortgage Calculator

East Ridge

Work with Carrie

Contact Details

Carrie Gallant

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