About 5 Franklin Place
Welcome to 5 Franklin Pl, Chattanooga, TN 37411—an income-producing multi-family property with three rented units, each featuring one bedroom and one bathroom. This investment opportunity offers immediate cash flow with a gross monthly income of $2,300, with all tenants currently on month-to-month leases. The property includes a durable metal roof, a convenient community laundry area, and utilities covered by the owner. Whether you're looking to continue renting for 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.
Features of 5 Franklin Place
| MLS® # | 1507159 |
|---|---|
| Price | $190,000 |
| Square Footage | 908 |
| Year Built | 1930 |
| Type | Residential Income |
| Sub-Type | Triplex |
| Status | Active |
Community Information
| Address | 5 Franklin Place |
|---|---|
| Area | East Ridge |
| Subdivision | Hewitt Wilson Etal |
| City | Chattanooga |
| County | Hamilton |
| State | TN |
| Zip Code | 37412 |
Amenities
| Utilities | Sewer Connected |
|---|---|
| Parking | Off Street |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Electric |
|---|---|
| Cooling | Multi Units, Window Unit(s) |
| Fireplace | No |
| Has Basement | Yes |
| Basement | Cellar |
Exterior
| Lot Description | Split Possible |
|---|---|
| Roof | Metal |
| Construction | Aluminum Siding |
School Information
| Elementary | East Ridge Elementary |
|---|---|
| Middle | East Ridge Middle |
| High | East Ridge High |
Additional Information
| Date Listed | February 10th, 2025 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |