4-Unit
541 20th St, Cleveland, TN 37311
For Sale
$699,900
Each residence has its own washer and dryer connections, with a mix of two- and one-bath layouts.
Property Size3,852 SF
Price / SF$181.70
Days on Market24
Property Features for 541 20th St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
individual washer and dryer hookups
Building Details
Year Built
Listing Agency:
Compass Group Realty, LLC
Listed By:
Margie Keller · License TN #263376
(423) 284-3056
Source:
Searchhomesforsaleknoxville
Added: Oct 17
Changed: Nov 8
Last Checked: Nov 8 at 7:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass Group Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1989, this 3,852-square-foot quadplex contains four two-bedroom residences. The two end apartments have two bathrooms apiece, while each of the two interior apartments has one. Washer and dryer connections are provided in every unit.
The property is just off Keith Street and within walking distance of Lee University. Its four apartments provide a defined mix of layouts within one multifamily property.
The property is just off Keith Street and within walking distance of Lee University. Its four apartments provide a defined mix of layouts within one multifamily property.
Key Highlights
- Four two‑bedroom apartments
- Two end units have 2 baths each; two middle units have 1 bath each
- 3,852 square feet; built in 1989
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,922
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$658,440
$658.4K
Cap Rate 7%
$470,314
$470.3K
Cap Rate 9%
$365,800
$365.8K
Market Conditions
NOI Build-Up for 3,852 SF
Gross rent
$49.9K $12.96/SF
− Vacancy
−$2.9K −$0.75/SF
EGI
$47.0K $12.21/SF
− OpEx
−$14.1K −$3.66/SF
NOI
$32.9K $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%
$658,440
Cap Rate 7%
$470,314
Cap Rate 9%
$365,800
Alternative Uses
Best Use
Multifamily LT 5
$470.3K
$411.5K – $548.7K
NOI $32,922 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$409.2K
$358.1K – $477.5K
NOI $28,647 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$808.3K
$707.2K – $943.0K
NOI $56,578 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
983
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has its own washer and dryer connections, with a mix of two- and one-bath layouts.
Where is this quadplex located?
The property is located at 541 20th St Cleveland, TN.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Four two‑bedroom apartments; Two end units have 2 baths each; two middle units have 1 bath each; 3,852 square feet; built in 1989
