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Bob Masterson

bob.masterson@redfin.com +1(423) 856-8304

$650,000

Est. payment - /mo

4 Beds

4 Baths

2,400 SqFt

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Open House

Sun Nov 08, 2:00pm - 4:00pm

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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,400 sqft

Price per Sqft $270

Subdivision Hope & Chandler

MLS Listing ID 1545767

Bedrooms 4

Year Built 1930

Lot Size 4,356 Sqft

Acres 0.1

Lot Dimensions 127 x 35

Property Sub-Type Quadruplex

Source Greater Chattanooga REALTORS®

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.

Location

State TN

County Hamilton

Area 0.1

Rooms

Basement Crawl Space

Interior

Interior Features Granite Counters, Natural Woodwork

Heating Central, Electric, Heat Pump

Cooling Multi Units

Flooring Ceramic Tile, Wood

Fireplace No

Window Features Storm Window(s),Wood Frames

Appliance Water Heater, Washer/Dryer, Free-Standing Refrigerator, Free-Standing Electric Range, Dishwasher

Heat Source Central, Electric, Heat Pump

Laundry Electric Dryer Hookup, In Unit, Washer Hookup

Exterior

Exterior Feature Awning(s)

Parking Features Gravel, Off Street

Garage Description Gravel, Off Street

Community Features Sidewalks, Street Lights

Utilities Available Cable Available, Electricity Connected, Phone Available, Sewer Connected, Water Connected

Roof Type Other

Porch Awning(s), Deck, Front Porch

Garage No

Building

Faces From downtown Chattanooga, take 3rd Street to Central Avenue and turn right. Quadplex is at the corner of Central and E 5th Street.

Story Two

Foundation Brick/Mortar

Sewer Public Sewer

Water Public

Structure Type Brick

Schools

Elementary Schools Brown Academy

Middle Schools Orchard Knob Middle

High Schools Howard School Of Academics & Tech

Others

Senior Community No

Tax ID 146a N 014

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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Greater Chattanooga Association of REALTORS(GCAR MLS)

Listed by Zach Taylor - Chattanooga

1039 5th ST Chattanooga, TN 37403