Multi-Family in Cleveland

Multi-Family for Sale
Catylist Listing ID: 30649181
Property Subtypes: Duplex/Fourplex, Other
Number of Units: 5 Units
Building Size (RSF): 4,816 SF
Gross Building Area: See Agent
Gross Land Area: 0.18 Acres
Sale Price: $300,000
Unit Price: $60,000 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/25/2020

Overview / Comments

This multifamily unit is located on the south-east side of Cleveland minutes from Hwy 64. The building is unique because it is a quadruplex with a house attached. The house is 816SF and has three bedrooms, one bath, central heat and air. The block quadruplex is 4,000SF and has one apartment with 1 bedroom and 1 bath. The other two apartments are 2 bedrooms and 1 bath. The fourth unit has been used for several years as a produce market. It has roughly 1000SF with an office and walk in cooler. All 4 units have laundry hook-ups. Tenants pay water, electric and do lawn maintenance. The monthly total rent income is $2,600. The commercial space is vacant, but could be leased for $500 monthly. All residential tenants have a one year lease.

Additional Details

Nearest MSA: Cleveland
County: Bradley
Tax ID/APN: 057E C 005.00 000
Zoning: COMMERCIAL
Percent Occupied: 100%
Property Located Between: 5th and 4th Street
Highway Access: Less than a mile from Hwy 64
Airports: Chattanooga Airport
Site Description: Block construction quadruplex and vinyl sided house sits on a .18 acre lot in a residential neighborhood.
Area Description: The multifamily building is located in a residential area close to commercial businesses.
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1975
Roof Type: Other
Construction/Siding: Vinyl Siding
Exterior Description: Vinyl siding on house and block construction quadruplex with a metal roof.
Parking Type: Surface
Laundry: In Each Unit
Fuel: Electric
Air Conditioning: Package Unit, Window Unit
Lot Frontage: 60
Lot Depth: 120
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,914 43,932 62,815
Median Age: 30.82 36.03 36.66
Households: 3,208 17,143 24,271

Contact

Photograph of Listing Agent

Joe M Pleva

KW Commercial Greater Chattanooga REALTORS® Member
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