353-505 Hungry Hollow Rd SE 20 Unit Apartment Building $5,000,000 ($250,000/Unit) Cleveland, TN 37323

The 20 townhome units have high-end interior features, including LVP flooring, granite counters, beautiful light fixtures, a single car over-sized garage, a rear deck, and overflow parking. The interior of each unit has two bedrooms, bonus room, laundry closet, living space, two and 1/2 bathrooms and eat-in kitchen. The 10 buildings sitting on five lots are situated in a serene country setting, yet remain conveniently close to downtown Cleveland, just five miles away. Outdoor activities abound along the Hiawassee River such as white water rafting, fly fishing, canoeing and camping. Cleveland has several walking and hiking trails. The area is experiencing new development such as new restaurants and shopping venues. All units are on septic. Phase I went under contract and sold within 60 days. This is Phase II and we expect it to sell quickly.

Ten units are currently leased with rents between $1,800 - $2,000/month. The remaining ten are being shown to prospective tenants and will be available for leasing within the next 2-6 weeks. There are no historical financials but this is a great investment opportunity for a new owner.
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