Skip To Content

563 NE Central Ave

Cleveland, TN 37311
  • $1,200,000
  • STATUS: Active
  • ON SITE: 42 Days
  • MLS #: 1345000
UPDATED: 29 min ago
$1,200,000
  • 0
    BEDS
  • 1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,184
    SQFT
  • $231
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1984
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

It's almost impossible to find an 8.5 Cap rate investment property these days. This 12 unit apartment complex is divided into two building with six units per building. Each building has its own address, 563 Central Ave and 385 Dooley St. They have been completely renovated inside and out. These units are around 406 Sq Ft with a living room, kitchen, bathroom and a generous bedroom with closet. Each apartment has its own heat and air unit, range and refrigerator. Each tenant signs a six month lease and our vacancy rate stays below 1%. There is usually a waiting list for vacant units. The owner provides utilities, cable and internet and rents are paid weekly. The average weekly rental price is $265 per unit, but this is still below current market value. You really must see themto understand how well they have been updated and maintained. Owner / Agent This sale includes 385 Dooley St. Cleveland, TN 37311

Monthly Payment Calculator



[Chattanooga Association of Realtors data share logo] logo
www.markhitehomes.com/homes/122599033
Print Image

563 NE Central Ave Cleveland, TN 37311

  • Price: $1,200,000
  • Status: Active
  • On Site: 42 Days
  • Updated: 29 min ago
  • MLS #: 1345000
0
Beds
0
Baths
0
½ Baths
1
Acres
5,184
SQFT
$231
$/SQFT
1984
Built
Neighborhood:
None
County:
Bradley
Area:
Cleveland
Elementary School:
Arnold Elementary
Middle School:
Cleveland Middle
High School:
Cleveland High
Property Description
It's almost impossible to find an 8.5 Cap rate investment property these days. This 12 unit apartment complex is divided into two building with six units per building. Each building has its own address, 563 Central Ave and 385 Dooley St. They have been completely renovated inside and out. These units are around 406 Sq Ft with a living room, kitchen, bathroom and a generous bedroom with closet. Each apartment has its own heat and air unit, range and refrigerator. Each tenant signs a six month lease and our vacancy rate stays below 1%. There is usually a waiting list for vacant units. The owner provides utilities, cable and internet and rents are paid weekly. The average weekly rental price is $265 per unit, but this is still below current market value. You really must see themto understand how well they have been updated and maintained. Owner / Agent This sale includes 385 Dooley St. Cleveland, TN 37311
Exterior Features

Exterior Aluminum/Vinyl Garage Parking Main Level Lot Description Level Lot Size Dimensions 53X209x51x209 Roof Metal

Interior Features

Basement Crawl Space Cooling CentralElectricWindow/Wall Unit Description 1 Level Heating Baseboard/WallCentralElectric Unit Four Bedrooms 1 Unit Four Features 1 Bath1 BedroomKitchenLiving RoomOven/RangeRefrigerator Unit Four Full Baths 1 Unit One Bedrooms 1 Unit One Features 1 Bath1 BedroomKitchenLiving RoomOven/RangeRefrigerator Unit One Full Baths 1 Unit Three Bedrooms 1 Unit Three Features 1 Bath1 BedroomKitchenLiving RoomOven/RangeRefrigerator Unit Three Full Baths 1 Unit Two Bedrooms 1 Unit Two Features 1 Bath1 BedroomKitchenLiving RoomOven/RangeRefrigerator Unit Two Full Baths 1

Property Features

Community Features None Existing Financing Conventional Financing CashConventional Gross Monthly Rent 3220.00 Home Warranty No Owner Pays Electric Possession Negotiable Property Sub Type Apartment Senior Community YN No Taxes 4013.00 Tenant Pays ElectricWater Type Of Sale Home Owner Unit Four Unit Number 4 Unit One Unit Number 1 Unit Three Unit Number 3 Unit Two Unit Number 2 Water Sewer On SewerPublic Water

[Chattanooga Association of Realtors data share logo] logo
Listing information © 2021 The Multiple Listing Service of Chattanooga, Inc.
Listing courtesy of Bender Realty.



[Chattanooga Association of Realtors data share logo] logo
 
https://bt-photos.global.ssl.fastly.net/chattanooga/1280_boomver_1_1345000-2.jpg https://bt-photos.global.ssl.fastly.net/chattanooga/1280_boomver_1_1345000-2.jpg https://bt-photos.global.ssl.fastly.net/chattanooga/1280_boomver_1_1345000-2.jpg
Logo
The Mark Hite Team | Real Estate Partners Chattanooga LLC
525 W Main St.
Chattanooga TN, 37402
<-- Client Provided -->