Renovated Quadplex with Modern
1514 Aurora Avenue SE Cleveland, TN 37311
1514 Aurora Avenue SE, Cleveland, TN, 37311
$329,000
For Sale
$329,000
MULTI_FAMILY - Ranch - Cleveland, TN
Property Size2,108 SF
Lot Size0.37 Acres
Price / SF$156.07
Days on Market98
Property Features for 1514 Aurora Avenue SE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Bedrooms
- 4
- Bathrooms
- 5
- Rooms
- Bathroom 5, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1
- Interior features
- Open Floorplan
- Exterior features
- Rain Gutters
- Appliances
- Refrigerator, Microwave, Electric Water Heater, Electric Range
- Standard status
- Active
- APN
- 057l C 01700 000
- Size
- 2,108 SF
- Lot size
- 0.37 Acres
Taxes and HOA fees
- Tax Description
- Lot 25
- Tax Annual Amount
- 1923
Utilities
- Sewer type
- Public Sewer
- Heating system
- Ductless (Heating)
- Cooling system
- Ductless
- Water source
- Public
Building Details
- Year built
- 1978
- Floors in Building
- 1
- Number of units
- 4
- Flooring type
- Vinyl
- Building materials
- Block
- Roof type
- Shingle
- Architectural style
- Ranch
Listing Agency
Century 21 1st Choice Realtors
(423) 478-2332
2075 N Ocoee Street, Cleveland, TN
Listed by
Gabe Cartwright · License #363796
(423) 716-3922
Added: Apr 13 Checked: Jul 19 at 9:06 am
MLS# 1532453
Listing URL
Copyright © 2026 Greater Chattanooga Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated quadplex features four 1-bedroom, 1-bathroom units, each updated for modern living. The property includes a new roof and new mini-split systems for heating and cooling. Updated cabinets and washer/dryer hookups are available in every unit. The property is situated on a 0.37-acre lot. The building size is 2108 square feet. This property is located in Cleveland, Tennessee, in Bradley County.
Key Highlights
- Turnkey quadplex with strong rental potential.
- Each unit has been renovated with modern updates.
- New mini‑split systems provide efficient heating and cooling.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.3k | $12.96 |
| − Vacancy | −$1.6k | −$0.75 |
| EGI | $25.7k | $12.21 |
| − OpEx | −$7.7k | −$3.66 |
| NOI | $18.0k | $8.55 |
2,108 SF · lease $12.96/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$257.4K
$225.2K – $300.3K
NOI $18,017 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$224.0K
$196.0K – $261.3K
NOI $15,677 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$442.3K
$387.0K – $516.0K
NOI $30,962 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Quadplex - Updated quadplex featuring new roof, mini-splits, and in-unit laundry.
Where is this quadplex located?
The property is located at 1514 Aurora Avenue SE Cleveland, TN.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Turnkey quadplex with strong rental potential.; Each unit has been renovated with modern updates.; New mini‑split systems provide efficient heating and cooling.
