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: |
7/19/2021 |
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 |
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 |
|
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