2295 Georgetown RdCleveland, TN 37311

Property Details for 2295 Georgetown Rd

Year built

1972

Property size (Sq ft)

4,368 SF

Property type

Apartment buildings

Description

This well-maintained, four-unit apartment building in Cleveland, Tennessee presents a compelling investment opportunity. The property, located at 2295 Georgetown Rd NW, boasts a desirable location and features four spacious two-bedroom units, each approximately 1000 square feet. Each unit includes a large living room with attached breakfast area, a kitchen equipped with refrigerator, stove, and dishwasher, and a convenient in-unit laundry area with provided washer and dryer. Residents enjoy either a private patio or balcony. Ample on-site parking is available. The building features a large corner lot with a common entrance and foyer, showcasing solid block construction. The property benefits from a new roof installed in 2020, and two of the HVAC systems have been replaced within the last three years. Currently operating at 100% occupancy, this stabilized investment offers a strong net operating income (NOI) of $32,160 and a 5.85% cap rate. The total square footage is 4,368, situated on a 24,718 square foot lot. Built in 1972, this Class B multifamily property is offered at $549,500 ($137,375 per unit and $125.80 per square foot). The property is held in fee simple ownership. The building consists of one, two-story structure. The Bradley County Assessor's Parcel Number (APN) is 049C C 001.00. This is a turnkey investment ready for immediate cash flow.

Location Insight

City

Cleveland

County

Bradley

State

Tennessee

Latitude

35.1824

Longitude

-84.8829

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