2295 Georgetown RdCleveland, TN 37311

Property Details for 2295 Georgetown Rd

Year built

1972

Property size (Sq ft)

4,368 SF

Property type

Residential income properties

Property subtype

Multifamily properties

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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