4-Unit Townhome-Style
For Sale
$1,060,000
Pending
1922 1924 1926 1928 Cypress Lane lot 15, Cleveland, TN 37323
Residential Income, Cleveland, TN
Property Size6,040 SF
Lot Size0.06 Acres
Days on Market380
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
12
Full bathrooms
12
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, On Street, Driveway
Spa
1
Window features
Insulated Windows, Vinyl Frames
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
Subdivision
Arbors Hills Townhomes
Lot features
Level
Elementary school
Blythe-Bower Elementary
Middle school
Cleveland Middle
High school
Cleveland High
Directions
Take APD 40 in Cleveland, Tennessee to McGrady Road at Food City. Take an immediate left onto Young Rd. Arbor Hills will be on your right then right on Cypress Lane
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
HOA Fee
$600 Annually
Legal Description
Part of lot 15 Arbor Hills Subdivision
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2024
Floors in Building
2
Number of units
4
Flooring type
Tile - Ceramic, Vinyl
Building materials
Brick, Fiber Cement, Stone
Roof type
Asphalt, Shingle
Architectural style
Contemporary
Buildings
1
Listing Agency:
Keller Williams Realty
(423) 664-1600
Listed By:
Gina Shumway · License #TN373412
(423) 218-2108
Added: Oct 13, 2025
Changed: Oct 23
Last Checked: Oct 27 at 10:06PM
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.
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Investment Insights
Based on property information with market context.
This under-construction quadplex contains four residences, each with 3 bedrooms, 2.5 bathrooms, and an attached 2-car garage. The 6,040-square-foot property is designed in a townhome configuration, with Craftsman-style exteriors and interiors featuring stainless steel appliances, soft-close cabinetry, and LVP flooring. Public water and sewer serve the property, and the HOA covers landscaping.
Grocery stores, dining, and shopping are within walking distance, with major highways nearby for regional travel. The property occupies a 0.06-acre lot in Cleveland, Tennessee.
Grocery stores, dining, and shopping are within walking distance, with major highways nearby for regional travel. The property occupies a 0.06-acre lot in Cleveland, Tennessee.
Key Highlights
- Four residences, each with 3 bedrooms and 2.5 bathrooms
- Attached 2‑car garage for each residence
- 6,040 square feet on a 0.06‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,622
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,032,440
$1.0M
Cap Rate 7%
$737,457
$737.5K
Cap Rate 9%
$573,578
$573.6K
Market Conditions
NOI Build-Up for 6,040 SF
Gross rent
$78.3K $12.96/SF
− Vacancy
−$4.5K −$0.75/SF
EGI
$73.7K $12.21/SF
− OpEx
−$22.1K −$3.66/SF
NOI
$51.6K $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%
$1,032,440
Cap Rate 7%
$737,457
Cap Rate 9%
$573,578
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 authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
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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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 - Each residence includes an attached garage, multiple bedrooms, and contemporary interior finishes.
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: Four residences, each with 3 bedrooms and 2.5 bathrooms; Attached 2‑car garage for each residence; 6,040 square feet on a 0.06‑acre lot
