Eight-Unit Apartment Building
For Sale
$2,200,000
1912/1914/ 1916/1918/1911/1913/1915/1917 Lane, Cleveland, TN 37323
Residential Income, Cleveland, TN
Property Size12,160 SF
Lot Size0.57 Acres
Price / SF$180.92
Days on Market54
Property Features for 1912/1914/ 1916/1918/1911/1913/1915/1917 Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
24
Bathrooms
24
Full bathrooms
16
Rooms
Bathroom 12, Bathroom 7, Bedroom 5, Bedroom 13, Bathroom 22, Bedroom 22, Bedroom 15, Bathroom 1, Bathroom 16, Bedroom 12, Bathroom 10, Bathroom 5, Bedroom 23, Bedroom 14, Bedroom 11, Bathroom 8, Bathroom 14, Bedroom 7, Bedroom 8, Bedroom 20, Bedroom 2, Bathroom 9, Bathroom 4, Bedroom 17, Bedroom 4, Bedroom 9, Bathroom 15, Bedroom 3, Bathroom 20, Bathroom 2, Bathroom 19, Bedroom 16, Bedroom 24, Bathroom 23, Bedroom 1, Bedroom 19, Bathroom 24, Bedroom 21, Bathroom 11, Bathroom 18, Bedroom 6, Bathroom 3, Bedroom 18, Bathroom 13, Bedroom 10, Bathroom 6, Bathroom 21, Bathroom 17
Parking features
Driveway, Garage
Pets allowed
Yes
Interior features
Ceiling Fan(s), Eat-in Kitchen, Granite Counters, High Ceilings, Kitchen Island, Open Floorplan, Recessed Lighting
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
12,160 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
17248
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
8
Flooring type
Vinyl
Building materials
Concrete, HardiPlank Type
Roof type
Shingle
Buildings
2
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# 1542141
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 eight townhomes distributed across two buildings, with a total building area of 12,160 square feet on 0.57 acres. The units feature open floorplans, eat-in kitchens, granite counters, kitchen islands, recessed lighting, high ceilings, vinyl flooring, and central heating and cooling. Appliances include refrigerators, ovens, microwaves, and dishwashers. Concrete and HardiPlank construction, shingle roofing, public water, and public sewer are also provided.
The property is located in Cleveland, Tennessee, with access to shopping, banking, daily amenities, and highways. Driveway and garage parking serve the buildings. All eight units are reported occupied, and the property is subject to an HOA that covers exterior maintenance.
The property is located in Cleveland, Tennessee, with access to shopping, banking, daily amenities, and highways. Driveway and garage parking serve the buildings. All eight units are reported occupied, and the property is subject to an HOA that covers exterior maintenance.
Key Highlights
- Eight townhomes arranged across 2 buildings
- 12,160 square feet on 0.57 acres
- 100% occupied across 8 residential units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,432
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,808,640
$1.8M
Cap Rate 7%
$1,291,886
$1.3M
Cap Rate 9%
$1,004,800
$1.0M
Market Conditions
NOI Build-Up for 12,160 SF
Gross rent
$175.1K $14.40/SF
− Vacancy
−$10.7K −$0.88/SF
EGI
$164.4K $13.52/SF
− OpEx
−$74.0K −$6.08/SF
NOI
$90.4K $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%
$1,808,640
Cap Rate 7%
$1,291,886
Cap Rate 9%
$1,004,800
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,432 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.55M
$2.23M – $2.98M
NOI $178,606 @ 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
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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?
Apartment building - Two-building configuration offers eight residential units with garage and driveway parking, central HVAC, and public utilities.
Where is this apartment building located?
The property is located at 1912/1914/ 1916/1918/1911/1913/1915/1917 Lane Cleveland, TN.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Eight townhomes arranged across 2 buildings; 12,160 square feet on 0.57 acres; 100% occupied across 8 residential units
