Four-Townhome Multifamily
For Sale
$1,100,000
1911 1913 1915 1917 Cypress Lane lot 24, Cleveland, TN 37323
Residential Income, Cleveland, TN
Property Size6,080 SF
Lot Size0.57 Acres
Price / SF$180.92
Days on Market54
Property Features for 1911 1913 1915 1917 Cypress Lane lot 24
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
12
Bathrooms
12
Full bathrooms
8
Rooms
Bedroom 9, Bathroom 2, Bathroom 4, Bathroom 6, Bedroom 7, Bedroom 1, Bathroom 12, Bathroom 8, Bedroom 5, Bathroom 5, Bathroom 7, Bedroom 11, Bathroom 10, Bathroom 3, Bedroom 12, Bedroom 3, Bathroom 1, Bathroom 9, Bedroom 4, Bedroom 10, Bedroom 8, Bedroom 2, Bedroom 6, Bathroom 11
Parking features
Garage, Driveway
Pets allowed
Yes
Interior features
Ceiling Fan(s), Eat-in Kitchen, Granite Counters, High Ceilings, Kitchen Island, Open Floorplan, Recessed Lighting
Basement
Unfinished
Appliances
Refrigerator, Oven, Microwave, Dishwasher
Subdivision
Arbor Hills Townhomes
Lot features
Paved
Elementary school
Blythe Bower Elementary
Middle school
Cleveland Middle
High school
Cleveland High
Standard status
Active
APN
066h B 025.00
Size
6,080 SF
Lot size
0.57 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
Lot 24 Part of Arbor Hills Subdivision
Tax Annual Amount
8624
HOA Fee
$600 Annually
Legal Description
Lot 24 Part of Arbor Hills Subdivision
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2025
Floors in Building
2
Number of units
4
Building materials
Concrete, HardiPlank Type
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(423) 664-1600
Listed By:
Gina Shumway · License #TN373412
(423) 218-2108
Added: Sep 4
Changed: Oct 23
Last Checked: Oct 27 at 8:06PM
MLS# 1542149
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 multifamily property comprises four townhomes totaling 6,080 square feet on a 0.57-acre parcel in Cleveland, Tennessee. The residences feature open floorplans, high ceilings, granite countertops, kitchen islands, recessed lighting, ceiling fans, and eat-in kitchens. Appliances include refrigerators, ovens, microwaves, and dishwashers. Central heating and central air serve the units, with garages and driveways providing parking. Construction materials include concrete and HardiPlank siding, with shingle roofing.
The property is reported at 100% occupancy and is subject to an HOA that handles exterior maintenance. Public water and public sewer serve the site. Shopping, banking, everyday amenities, and highway access are identified in the surrounding area.
The property is reported at 100% occupancy and is subject to an HOA that handles exterior maintenance. Public water and public sewer serve the site. Shopping, banking, everyday amenities, and highway access are identified in the surrounding area.
Key Highlights
- Four townhomes totaling 6,080 square feet
- 0.57‑acre multifamily property in Cleveland, TN
- 100% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,216
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$904,320
$904.3K
Cap Rate 7%
$645,943
$645.9K
Cap Rate 9%
$502,400
$502.4K
Market Conditions
NOI Build-Up for 6,080 SF
Gross rent
$87.6K $14.40/SF
− Vacancy
−$5.3K −$0.88/SF
EGI
$82.2K $13.52/SF
− OpEx
−$37.0K −$6.08/SF
NOI
$45.2K $7.44/SF
Area
Bradley County, TN
Vacancy
6.10%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$904,320
Cap Rate 7%
$645,943
Cap Rate 9%
$502,400
Alternative Uses
Best Use
Apartment 5plus
$645.9K
$565.2K – $753.6K
NOI $45,216 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,303 @ 7.0% cap · market cap 8.12%
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
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Explore this area
Business Placement
Demographics for 37323, TN
31,497
Population
12,841
Households
2.5
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
114.6 sq mi
ZIP Area
275
Density / Sq Mi
$67,538
Median Household Income
$41,922
Median Earnings
$908
Median Rent
$213,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Four townhomes offer newer construction, established occupancy, and HOA-managed exterior maintenance in Cleveland.
Where is this multifamily property located?
The property is located at 1911 1913 1915 1917 Cypress Lane lot 24 Cleveland, TN.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four townhomes totaling 6,080 square feet; 0.57‑acre multifamily property in Cleveland, TN; 100% occupied
