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.
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0BEDS
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0.21ACRES
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0BATHS
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01/2 BATHS
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2,724SQFT
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$68$/SQFT
School Information
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.
5 Franklin Place Chattanooga, TN 37412
Property Description
Architectural Style [] Attached Garage YN No Carport Spaces 3 Carport YN Yes Construction Materials Aluminum SidingOther Exterior Features [] Fencing [] Foundation Details [] Garage YN No Lot Features SlopedSplit Possible Other Structures [] Parking Features DrivewayOff Street Patio And Porch Features DeckPatio Pool Features [] Roof Metal Roof Metal Yes Structure Type Triplex View [] View YN No Waterfront Features [] Waterfront YN No
Accessibility Features [] Appliances Water HeaterWasher/DryerRefrigeratorFree-Standing RefrigeratorElectric RangeDishwasher Basement [] Basement YN No Building Area Total 2724 Cooling Multi UnitsWindow Unit(s) Cooling YN Yes Fireplace Features [] Fireplace YN No Flooring [] Heating Electric Heating YN Yes Interior Features [] Laundry Features Common Area Levels One Window Features []
Additional Parcels YN No Association Amenities [] Association YN2 No Auction YN2 No Community Features [] Green Energy Efficient [] Green Sustainability [] Green Water Conservation [] Listing Terms Cash New Construction YN No Other Equipment [] Property Sub Type Triplex Security Features [] Senior Community YN No Sewer Public Sewer Special Listing Conditions Investor Tax Annual Amount 1263.52 Utilities Electricity ConnectedSewer ConnectedWater Connected Utilities Sewer Connected Yes Water Source Public
Listing information © 2026 The Multiple Listing Service of Chattanooga, Inc.
Listing courtesy of Real Estate Partners Chattanooga LLC: 423-265-0088.
