38 Units in Cleveland TN | Priced to Sell
Tuesday, May 5th, 2015
By: Solange Velas, CCIM
This attractive 38-unit apartment complex is great for investors. Priced to sell, the units offer below-market rents and an 8 cap on actual financials.
In charming Cleveland, Tenn., the property is well located to downtown and local shopping. Only 35 minutes from downtown Chattanooga and 20 minutes from the Volkswagen plant.
- Price: $795,000 (current tax appraisal: $838,500)
- Rents: Below market — good upside potential
- Cap Rate: 8% on actual financials
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