MIDDLE TENNESSEE REAL ESTATE
MIDDLE TENNESSEE REAL ESTATE
5 Franklin Place, Chattanooga, TN 37412 For Sale
- 2,724 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.
Property Details
Status : Active
Address : 5 Franklin Place Chattanooga TN 37412
County : Hamilton County, TN
Property Type : Residential Income
Area : 2,724 sq. ft.
Year Built : 1930
Exterior Construction : Aluminum Siding,Other
Heat : Electric
HOA / Subdivision : Hewitt Wilson Etal
Listing Provided by : Real Estate Partners Chattanooga, LLC
MLS Status : Active
Listing # : RTC3132231
Schools near 5 Franklin Place, Chattanooga, TN 37412 :
East Ridge Elementary School, East Ridge Middle School, East Ridge High School
Additional details
Heating : Yes
Parking Features : Detached,Attached,Driveway
Building Area Total : 2724 Sq. Ft.
Lot Size Dimensions : 72.5X126
Living Area : 2724 Sq. Ft.
Property Attached : Yes
Office Phone : 4232650088
Possession : Close Of Escrow
Cooling : 1
Levels : Three Or More
Stories : 1
Utilities : Electricity Available,Water Available
Parking Space : 3
Carport : 1
Sewer : Public Sewer
Location 5 Franklin Place, TN 37412
Directions to 5 Franklin Place, TN 37412
From I-24 W, take exit 184 toward Moore Rd. Merge onto North Terrace. Turn left onto S Germantown Rd. Turn right onto Cathy Ln. Turn left onto Donaldson Rd. Continue straight onto Poindexter Ave. Turn right onto Franklin Pl. Home will be on the left.
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