900 Stratford CirCleveland, TN 37312

Property Details for 900 Stratford Cir

Year built

1984

Property size (Sq ft)

6,400 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents a portfolio of six well-maintained townhomes situated in the desirable Stratford Villages subdivision of Cleveland, Tennessee. The property comprises three buildings, each featuring two-story units, totaling 6,400 square feet of net rentable space. Each of the six units boasts two bedrooms and 1.5 bathrooms, with approximately 1,090 square feet of living space. Currently operating at 100% occupancy, the portfolio generates a strong NOI of $49,528, representing a 4.31% cap rate. However, a pro-forma analysis indicates a significantly higher potential cap rate of 6.73% and NOI of $77,428, reflecting the opportunity to increase rental rates to market value. Built in 1984, these Class B properties are zoned R-3 and benefit from a convenient location, less than ten minutes from Lee University and within walking distance of Publix and a local mall, ensuring consistent tenant demand. Four units are located within a single building, while the remaining two are in separate buildings. The property includes on-site parking and benefits from reasonable HOA fees covering lawn care, roof maintenance, trash collection, and other exterior upkeep. This value-add investment presents a compelling opportunity for significant returns. The asking price is $1,150,000, translating to $179.69 per square foot and $191,666.67 per unit. The property is offered as a leased investment and is for sale by owner.

Location Insight

City

Cleveland

County

Bradley

State

Tennessee

Latitude

35.2093

Longitude

-84.8597

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