Four-Unit Residential Income
New
For Sale
$350,000
1645 Blythe Avenue SE, Cleveland, TN 37311
Residential Income, Cleveland, TN
Property Size2,652 SF
Lot Size0.29 Acres
Price / SF$131.98
Days on Market4
Property Features for 1645 Blythe Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 6, Bedroom 4, Bathroom 4, Bedroom 7, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 2, Bedroom 8, Bedroom 5
Appliances
Refrigerator, Electric Water Heater, Electric Range
Elementary school
Blythe-Bower Elementary
Middle school
Cleveland Middle
High school
Cleveland High
Directions
From Blythe Bower Elementary turn left on 20th st SE, then right on Blythe Ave SE
Standard status
Active
APN
057l U 02500 000
Size
2,652 SF
Lot size
0.29 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
057L U 025.00
Tax Annual Amount
2171
Legal Description
057L U 025.00
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1983
Number of units
4
Flooring type
Vinyl
Building materials
Stucco
Roof type
Shingle
Listing Agency:
The Source Real Estate Group
(423) 654-7055
Listed By:
Destanie Asher · License #352109
(423) 596-2295
Added: Oct 24
Last Checked: Oct 27 at 10:06PM
MLS# 1545127
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.
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Investment Insights
Based on property information with market context.
This four-unit residential property contains 2,652 square feet across four apartments, each configured with two bedrooms and one bathroom. Interior improvements include vinyl flooring and updated cabinetry and fixtures. Each unit has its own ductless mini-split heating and cooling system. The building was constructed in 1983 and sits on a 0.29-acre parcel.
All four apartments are occupied. Public water and sewer serve the property, and the units include refrigerators and electric ranges.
All four apartments are occupied. Public water and sewer serve the property, and the units include refrigerators and electric ranges.
Key Highlights
- Four 2‑bedroom, 1‑bath apartments
- 2,652 square feet on a 0.29‑acre parcel
- All four units currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,666
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,320
$453.3K
Cap Rate 7%
$323,800
$323.8K
Cap Rate 9%
$251,844
$251.8K
Market Conditions
NOI Build-Up for 2,652 SF
Gross rent
$34.4K $12.96/SF
− Vacancy
−$2.0K −$0.75/SF
EGI
$32.4K $12.21/SF
− OpEx
−$9.7K −$3.66/SF
NOI
$22.7K $8.55/SF
Area
Bradley County, TN
Vacancy
5.79%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,320
Cap Rate 7%
$323,800
Cap Rate 9%
$251,844
Alternative Uses
Best Use
Multifamily LT 5
$323.8K
$283.3K – $377.8K
NOI $22,666 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$281.8K
$246.5K – $328.7K
NOI $19,723 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$556.5K
$486.9K – $649.2K
NOI $38,953 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
303
Businesses Nearby
Explore this area
Business Placement
Demographics for 37311, TN
29,687
Population
12,942
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
50.1 sq mi
ZIP Area
593
Density / Sq Mi
$46,827
Median Household Income
$28,839
Median Earnings
$890
Median Rent
$205,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied apartments feature refreshed cabinetry, vinyl flooring, and individual ductless heating and cooling.
Where is this quadplex located?
The property is located at 1645 Blythe Avenue SE Cleveland, TN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath apartments; 2,652 square feet on a 0.29‑acre parcel; All four units currently occupied
