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1039 E 5th Street, Chattanooga, TN 37403

$650,000
: 4
BD
: 4
BA
: 2,400
SqFt

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List Price: $650,000
MLS#: 1545767
Bedrooms: 4
Sq. Ft: 2,400
Acres: 0.10
Year Built: 1930
Subdivision: Hope & Chandler

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Property Description

1039 E 5th Street | Historic Charm. Four Doors and a World of Possibilities. Located in Historic Fortwood District and within walking distance to UTC and Erlanger Hospital, charm meets investment opportunity at 1039 E 5th Street. This distinctive four-unit property offers the flexibility to rent all four residences or occupy one while rental income from the other three offsets your mortgage, subject to existing leases. With all current long-term tenants being month to month, estimated market rent potential of $4,400 per month and estimated midterm rental potential of $6,500 per month. Approximately 95 years old, the property underwent a complete renovation in 2014, including plumbing, electrical, HVAC and roofing, and restored operable original wood windows. Beautiful hardwood floors throughout and exposed brick both complement its character including original wood trim and doors. Newer storm windows were added as well. Whether expanding your investment portfolio or seeking an owner-occupied property with multiple rental income streams, this quadruplex combines architectural character with income growth potential. Rental estimates are projections, subject to market conditions, occupancy, furnishings, and operating expenses.

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Additional Information

Exterior: Brick
Interior: Granite Counters, Natural Woodwork
Roof: Other
Floors: Ceramic Tile, Wood
Foundation: Brick/Mortar
Basement: Crawl Space
Appliances: Dishwasher, Free-Standing Electric Range, Free-Standing Refrigerator, Washer/Dryer, Water Heater
Exterior Features: Awning(s)
Community Features: Street Lights, Sidewalks
Cooling: Multi Units
Heating: Central, Electric, Heat Pump, Varies by Unit
Elementary School: Brown Academy
Middle School: Orchard Knob Middle
High School: Howard School Of Academics & Tech
Financing Available: Cash, Conventional