BEDS0
BATHS
SQUARE FEET2,724
MLS#1528731
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONHewitt Wilson Etal
NEIGHBORHOODEast Ridge
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.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Multi Units, Window Unit(s)
Fuel Type: Electric
Heating: Electric
Lot Size: 0.21 Acres
Taxes: $1,263
Year Built: 1930
Units
Unit Type 1:
Bedrooms: 1
Bathroom(s): 1.0
Square Footage: 908
Unit Type 2:
Bedrooms: 1
Bathroom(s): 1.0
Rent: $640.00
Square Footage: 908
Unit Type 3:
Bedrooms: 1
Bathroom(s): 1.0
Rent: $800.00
Square Footage: 908
Feature Descriptions
Appliances: Dishwasher, Electric Range, Free-Standing Refrigerator, Refrigerator, Washer/Dryer, Water Heater
Days on Site: 58
Exterior: Aluminum Siding, Other
Laundry: Common Area
Lot: Sloped, Split Possible
Lot Dimensions: 72.5X126
Parcel #: 156m A 006
Parking: Driveway, Off Street
Patio/Porch: Deck, Patio
Utilities: Electricity Connected, Sewer Connected, Water Connected
Local Schools
High School: East Ridge High
Middle School: East Ridge Middle
Elementary School: East Ridge Elementary
Listed By / Shown By
Listed By
Agency Name: Real Estate Partners Chattanooga LLC
Agency Phone: 423-265-0088
Shown By
Agent Name: John Loveless
Agent Phone: (423) 506-8614
Agency Title: Crye-Leike Real Estate Services
Source: CARMLS
Estimate Your Payment
Estimated Payment
$ 482.83 per month $333.83 Principal & Interest $105.25 Property Tax $43.75 Homeowner's InsuranceChange Payment Information
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5 Franklin Place | MLS# 1528731
This multi-family property located at 5 Franklin Place, Chattanooga, TN 37412 is currently listed for sale with an asking price of $150,000. Search East Ridge real estate on www.johnloveless.com today.