Multi-Family Investment in Cleveland

Multi-Family for Sale
Catylist Listing ID: 30621334
Property Subtypes: Duplex/Fourplex, Other
Number of Units: 5 Units
Building Size (RSF): 3,584 SF
Gross Building Area: See Agent
Gross Land Area: 0.46 Acres
Sale Price: $399,000
Unit Price: $79,800 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/14/2021

Overview / Comments

Cleveland is a fast growing community with new businesses moving into the area, new construction homes and various rental applications. This unique building has four one bedroom/one bath apartments and a restaurant leases the first level. The apartment rental income totals $3,575 monthly. The restaurant rents for $1,400 monthly and has maintained a steady income through the Covid pandemic. The utility costs average $550 monthly and are paid by the owner.

Located on Hwy 64, this location experiences a daily high traffic count.

Additional Details

Nearest MSA: Cleveland
County: Bradley
Tax ID/APN: 058F C 013.00 000
Percent Occupied: 100%
Property Located Between: Dixie Drive and Cherokee Drive
Highway Access: Property is located on Hwy 64. I-75 is less than 6 miles away.
Area Description: Located on Hwy 64, the property has excellent visibility. The Cleveland area is a fast growing city with new businesses and new construction appearing everywhere.
Total Number of Buildings: 1
Property Condition: Fair
Number of Stories: 1
Year Built: 1965
Construction/Siding: Block
Parking Type: Surface
Heat Source: Wall Units
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,268 36,325 65,815
Median Age: 45.37 35.08 36.83
Households: 521 13,778 25,324

Contact

Photograph of Listing Agent

Joe M Pleva

KW Commercial Greater Chattanooga REALTORS® Member
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