3540 Adkisson Drive #NW, Cleveland, TN 37312
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3540 Adkisson Drive #NW, Cleveland, TN 37312
3540 Adkisson Drive #NW, Cleveland, TN 37312
Listed by Heath Davis • Award Realty II
Bought with Heath Davis

$1,420,000

Est. payment /mo

$1,499,000

5.3%
Est.Price: ?

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3540 Adkisson Drive #NW Cleveland, TN 37312

5,022 SqFt

SOLD DATE : 07/21/2026

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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