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About This Home
This 3-bedroom, 0-bathroom residential multi family at 5 Franklin Place in Chattanooga, TN is listed for $150,000 ($55 per sqft). Built in 1930, the home offers 2,724 sqft of living space on a 0.21 acres lot.
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.
Key Features
- Built in 1930
- 0.21 acre lot
Property Details
Amenities
Monthly Cost Estimate
$802/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
5 Franklin Place
Chattanooga, TN 37412
Hewitt Wilson Etal
Property Details
Construction
Pool Features
Parking
Heating
Cooling
Appliances
Questions & Answers
This 3-bedroom, 0-bathroom residential multi family at 5 Franklin Place is listed at $150,000 ($55/sqft). The estimated monthly payment is $650 based on 20% down at 6.5% interest.
Key features include: Built in 1930, 0.21 acre lot.
This property is listed by Dustin Mullins and can be reached at 4239914806 or Dustin@thedustinmullinsteam.com.