563 Central Avenue NE

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$1,397,400

563 Central Avenue NE

12 Beds 6 Baths 5,184 Sq.Ft.

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Description

Turn-Key 12-Unit Apartment Complex | High-Yield Investment with 7%+ Cap Rate

2 Buildings - 563 Central Ave NE and 385 Dooley St

This fully renovated 12-unit apartment complex is an ideal income-generating property, offering a strong return and excellent tenant appeal. Divided into two buildings--563 Central Ave and 385 Dooley St--each building houses six well-designed units.

Tenants pay rent weekly, ensuring steady cash flow and maximizing revenue.

Renovations Completed in 2020. Both interiors and exteriors have been modernized for low-maintenance operation.

Each unit offers approximately 406 sq. ft., featuring a living room, kitchen, bathroom, and a spacious bedroom with a closet.

Every unit is equipped with its own heat/air system, range, and refrigerator.

Conveniently located just minutes from Lee University and downtown Cleveland, this property offers easy access to schools, shops, restaurants, and entertainment, making it a top choice for renters.

With its high cap rate, modern updates, and strategic location, this property is a perfect addition to any investor's portfolio.

Call for financials and more information!

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Location

563 Central Avenue NE, Cleveland, TN 37311

Status

Pending

Property Amenities

Interior

Appliances Electric Range

Flooring Laminate, Linoleum

Total Bedrooms: 12

Full Bathrooms: 6

Area & Lot

Lot Area 1 Acres

Living area 5,184 Sq.Ft.

MLS® ID 1505498

Year Built 1984

High School Cleveland High

Middle School Cleveland Middle

Elementary School Arnold Elementary

Type Other

Status Pending

Exterior

Air conditioning Ductless

Water Source Public

Other Exterior Features Other

Parking Asphalt, Off Street, Parking Lot

Lot Features Level

Utilities Electricity Connected, Water Connected

Finance

Sales Price $1,397,400

Real Estate Tax $2,532 yearly

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563 Central Avenue NE, Cleveland, TN 37311

12 BEDS
6 BATHS
5,184 Sq.Ft.

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$1,397,400

563 Central Avenue NE

Description

Share Property

Location

Status

Property Amenities

Interior

Area & Lot

Exterior

Finance

Schedule a Showing

Schedule a Showing

Mortgage Calculator

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Work With Tim

Leave a Message

Thank you for your message. We will be in touch with you shortly.

$1,397,400

563 Central Avenue NE

Description

Share Property

Location

Status

Property Amenities

Interior

Area & Lot

Exterior

Finance

Schedule a Showing

Schedule a Showing

Mortgage Calculator

Featured Properties

$5,550,000

$2,800,000

$2,300,000

$1,995,000

$1,900,000

$1,800,000

$1,449,000

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$1,397,400

Work With Tim

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