New Quadruplex
1922 1924 1926 1928 Cypress Lane lot 15 Cleveland, TN 37323
For Sale
$1,060,000
Pending
MULTI_FAMILY - Contemporary - Cleveland, TN
Property Size6,040 SF
Lot Size0.06 Acres
Days on Market285
Property Features for 1922 1924 1926 1928 Cypress Lane lot 15
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Property condition
- Under Construction
- Bedrooms
- 12
- Bathrooms
- 14
- Rooms
- Bedroom 11, Bedroom 3, Bathroom 6, Bathroom 14, Bedroom 2, Bedroom 1, Bathroom 4, Bedroom 8, Bathroom 1, Bathroom 9, Bathroom 5, Bathroom 13, Bedroom 12, Bedroom 10, Bathroom 8, Bathroom 3, Bathroom 10, Bathroom 12, Bedroom 7, Bathroom 2, Bedroom 9, Bathroom 7, Bathroom 11, Bedroom 6, Bedroom 4, Bedroom 5
- Parking features
- On Street, Driveway, Garage
- Spa
- 1
- Window features
- Vinyl Frames, Insulated Windows
- Patio and Porch features
- Patio
- Interior features
- Bar, Eat-in Kitchen, En Suite, Granite Counters, Open Floorplan, Pantry, Walk-In Closet(s)
- Exterior features
- Awning(s), Rain Gutters
- Fireplace
- 1
- Appliances
- Refrigerator, Microwave, Electric Water Heater, Electric Range, Disposal, Dishwasher
- Standard status
- Pending
- APN
- 066h B 025.00
- Size
- 6,040 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Description
- Part of lot 15 Arbor Hills Subdivision
- Tax Annual Amount
- 2156
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 2024
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Vinyl, Tile - Ceramic
- Building materials
- Brick, Fiber Cement, Stone
- Roof type
- Shingle, Asphalt
- Architectural style
- Contemporary
Listing Agency:
Keller Williams Realty
(423) 664-1600
Listed By:
Gina Shumway · License #TN373412
(770) 686-9366
Added: Oct 13, 2025
Changed: Jul 22
Last Checked: Jul 24 at 11:06AM
MLS# 1522225
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.
Pre-sale opportunity for an upcoming quadruplex built to townhome specifications in Cleveland, Tennessee. The plan calls for four residential units, each designed with 3 bedrooms and 2.5 bathrooms. The homes are set up with Craftsman-style exteriors and will include stainless steel appliances, soft-close cabinetry, and LVP flooring throughout the main living areas.
Each unit will also have an attached 2-car garage for added everyday convenience. The property is planned within a well-maintained community governed by an HOA that covers landscaping. The HOA also includes plans for a future community pool. The development will be connected to a sewer system.
Construction is scheduled to begin by mid-October, with an estimated completion in March/April 2025. If the buyer is under contract prior to completion, the builder will allow the buyer to choose from a selection of finishings.
Each unit will also have an attached 2-car garage for added everyday convenience. The property is planned within a well-maintained community governed by an HOA that covers landscaping. The HOA also includes plans for a future community pool. The development will be connected to a sewer system.
Construction is scheduled to begin by mid-October, with an estimated completion in March/April 2025. If the buyer is under contract prior to completion, the builder will allow the buyer to choose from a selection of finishings.
Key Highlights
- Brand‑new quadruplex built to townhome specifications, offering a modern living experience and strong tenant appeal.
- Each unit features 3 bedrooms, 2.5 bathrooms, stainless steel appliances, soft‑close cabinets, and durable LVP flooring.
- Each unit includes an attached 2‑car garage for convenience.
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 | $78.3k | $12.96 |
| − Vacancy | −$4.5k | −$0.75 |
| EGI | $73.7k | $12.21 |
| − OpEx | −$22.1k | −$3.66 |
| NOI | $51.6k | $8.55 |
6,040 SF · lease $12.96/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$737.5K
$645.3K – $860.4K
NOI $51,622 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$641.7K
$561.5K – $748.7K
NOI $44,919 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,716 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Upcoming four-unit property with townhome-style layouts, each unit featuring an attached two-car garage.
Where is this quadplex located?
The property is located at 1922 1924 1926 1928 Cypress Lane lot 15 Cleveland, TN.
What is the asking price?
The asking price for this property is $1,060,000.
What are key features of this property?
This property features: Brand‑new quadruplex built to townhome specifications, offering a modern living experience and strong tenant appeal.; Each unit features 3 bedrooms, 2.5 bathrooms, stainless steel appliances, soft‑close cabinets, and durable LVP flooring.; Each unit includes an attached 2‑car garage for convenience.
