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This Multifamily Property is no longer advertised on LoopNet.com.

1211 S Lee Hwy
Cleveland, TN 37311
 17.5% Cap Rate | Performing | Extended-Stay · Multifamily Property For Sale · 41 Units

Apartment Buildings Tennessee Cleveland 1211 S Lee Hwy, Cleveland, TN 37311

INVESTMENT HIGHLIGHTS

  • High-yield investment that is operational and performing well, with a proforma NOI above $300,000.
  • Well-positioned asset on a spacious 1.36-acre lot just off the highly trafficked Lee Highway/Highway 64, exposing the property to over 12,000 VPD.
  • Growing Tennessee city with over 121,000 residents in a 10-mile radius (projected to be 128,000 by 2029), with an average household income over $79K.
  • Property underwent renovations in 2022-2024 that included new HVAC, roofing, dry wall, electrical, bathrooms, parking lot, and exterior paint work.
  • Highly desirable location just minutes from Downtown Cleveland and near amenities such as Dollar General, Starbucks, Dollar Tree, and many more.
  • Buyers stands to benefit greatly by adding an online marketing presence, something the property has not utilized.

PROPERTY FACTS

No. Units 41 Lot Size 1.36 AC
Property Type Multifamily Building Size 24,416 SF
Property Subtype Apartment No. Stories 2
Apartment Style Low-Rise Year Built/Renovated 1944/2024
Building Class C
Zoning CH
No. Units 41
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class C
Lot Size 1.36 AC
Building Size 24,416 SF
No. Stories 2
Year Built/Renovated 1944/2024
Zoning CH

AMENITIES

UNIT AMENITIES

  • Tub/Shower

SITE AMENITIES

  • 24 Hour Access

PROPERTY TAXES

Parcel Numbers
Multiple
  • 057B-K-002.00
  • 057B-J-007.00
 Improvements Assessment $287,120
Land Assessment $95,920 Total Assessment $383,040

PROPERTY TAXES

Parcel Numbers
Multiple
  • 057B-K-002.00
  • 057B-J-007.00
Land Assessment
$95,920
Improvements Assessment
$287,120
Total Assessment
$383,040
 

  • Listing ID: 34257950

  • Date on Market: 12/20/2024

  • Last Updated:

  • Address: 1211 S Lee Hwy, Cleveland, TN 37311

More public record information on 1211 S Lee Hwy, Cleveland, TN 37311

The Downtown Cleveland Multifamily Property at 1211 S Lee Hwy, Cleveland, TN 37311 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.

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