Steeple Cir Cleveland, TN 37312
- Residential income homes
- 840 SF
Current Use by Public Records
- Residential income homes
Property Details for 0 Steeple Cir
- Year built
- 1988
- Property size
- 840 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a 46-unit multifamily portfolio located in Cleveland, Tennessee, within the desirable Steeple Chase subdivision. Comprising 23 buildings, this property offers a mix of duplex units, each boasting 2 bedrooms and 1.5 bathrooms. Each unit features approximately 840-896 square feet of living space, including a kitchen, living room, and washer/dryer hookups. The property sits on lots ranging from 3,400 to 3,900 square feet, providing ample space for residents. Built in 1988, the buildings are situated in a convenient Northeast Cleveland location. The property benefits from a strong tenant base, providing immediate cash flow. Tenants are responsible for their own electric, water, and sewer utilities. Each unit includes two parking spaces. The property is zoned R3, offering potential for future development or expansion. With an asking price of $6,328,400, this represents a compelling price per unit of $137,573.91, making it an attractive addition to any investment portfolio. This portfolio offers a rare opportunity to acquire a substantial, income-producing multifamily asset in a growing Tennessee market. The existing tenant base ensures immediate return on investment, while the property's location and features promise strong long-term growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cleveland
- County
- Bradley
- State
- Tennessee
- Longitude
- -84.851
- Latitude
- 35.1809
