Bought with Heath Davis
$1,420,000
$1,499,000
5.3%For more information regarding the value of a property, please contact us for a free consultation.
3540 Adkisson Drive #NW Cleveland, TN 37312
5,022 SqFt
Key Details
Sold Price $1,420,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,022 sqft
Price per Sqft $282
MLS Listing ID 3217070
Sold Date 07/21/26
HOA Y/N No
Year Built 1986
Annual Tax Amount $5,907
Lot Dimensions 202 x 201
Property Description
This 16-unit multifamily opportunity (two buildings with 8 units each) offers a compelling value-add investment in a high-demand rental corridor adjacent to Cleveland State Community College.
The property consists of all 1 bed / 1 bath units, ideally suited for student housing, providing consistent occupancy potential and reliable rental demand. Constructed of low-maintenance brick, the asset includes an on-site laundry facility, creating an additional income stream opportunity.
With its prime location near campus, tenants benefit from walkable access to school and a short drive to restaurants, retail, and I-75, enhancing long-term desirability.
Value-add potential exists through interior upgrades, rent optimization, and operational efficiencies--positioning this asset for increased NOI and long-term appreciation.
Ideal for investors seeking stable cash flow with upside, this property combines location, durability, and scalability in a growing rental market.
Location
State TN
County Bradley County
Interior
Heating Central, Electric
Cooling Central Air
Flooring Laminate
Fireplace N
Exterior
Utilities Available Electricity Available, Water Available
View Y/N false
Roof Type Shingle
Private Pool false
Building
Story 2
Sewer Public Sewer
Water Public
Structure Type Brick,Other
New Construction false
Schools
Middle Schools Cleveland Middle
High Schools Cleveland High
Others
Senior Community false
Special Listing Condition Standard
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