5 Franklin Place Chattanooga, TN 37412
Estimated payment $1,098/month
Highlights
- Deck
- No HOA
- Multiple cooling system units
- Furnished
- Efficiency Studio
- Patio
About This Home
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.
Listing Agent
Robert Fitzgerald
Crye-Leike, REALTORS License #364482 Listed on: 02/10/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,264
Year Built
- Built in 1930
Lot Details
- Lot Dimensions are 72.5x126
- May Be Possible The Lot Can Be Split Into 2+ Parcels
Home Design
- Triplex
- Metal Roof
- Aluminum Siding
Interior Spaces
- 908 Sq Ft Home
- 1-Story Property
- Furnished
- Living Room
- Efficiency Studio
- Stove
- Basement
- Basement Cellar
Parking
- 1 Carport Space
- Off-Street Parking
Outdoor Features
- Deck
- Patio
Schools
- East Ridge Elementary School
- East Ridge Middle School
- East Ridge High School
Utilities
- Multiple cooling system units
- Window Unit Cooling System
- Heating Available
Listing and Financial Details
- The owner pays for all utilities
- Assessor Parcel Number 156m A 006
Community Details
Overview
- No Home Owners Association
- 3 Units
- Hewitt Wilson Etal Subdivision
Additional Features
- Laundry Facilities
- Gross Income $27,600
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $790 | $52,125 | $0 | $0 |
| 2024 | $657 | $29,350 | $0 | $0 |
| 2023 | $1,024 | $29,350 | $0 | $0 |
| 2022 | $1,024 | $29,350 | $0 | $0 |
| 2021 | $1,273 | $29,350 | $0 | $0 |
| 2020 | $1,019 | $20,225 | $0 | $0 |
| 2019 | $1,019 | $20,225 | $0 | $0 |
| 2018 | $1,019 | $20,225 | $0 | $0 |
| 2017 | $1,019 | $20,225 | $0 | $0 |
| 2016 | $988 | $0 | $0 | $0 |
| 2015 | $988 | $19,075 | $0 | $0 |
| 2014 | $988 | $0 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/10/2025 02/10/25 | For Sale | $190,000 | -- | $209 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | File Title Services | |
| Quit Claim Deed | -- | File Title Services | |
| Interfamily Deed Transfer | -- | First Title | |
| Interfamily Deed Transfer | -- | First Title | |
| Warranty Deed | $28,500 | First Title |
Source: Greater Chattanooga REALTORS®
MLS Number: 1507159
APN: 156M-A-006
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