353-505 Hungry Hollow Rd SE - Apartments FOR SALE


Cleveland, TN 37323
$5,000,000 USD
423-667-6204
353-505 Hungry Hollow Rd SE, Cleveland, TN for Sale
$5,000,000 USD
Apartments - FOR SALE
1/17
null | Request Cap Rate

353-505 Hungry Hollow Rd SE
Cleveland, TN 37323


HIGHLIGHTS

  • Conveniently Close to Shopping and Restaurants
  • Beautiful Country Setting

OVERVIEW

The 20 townhome units have high-end interior features, including LVP flooring, granite counters, beautiful light fixtures, a single car over-sized garage, a rear deck, and overflow parking. The interior of each unit has two bedrooms, bonus room, laundry closet, living space, two and 1/2 bathrooms and eat-in kitchen. The 10 buildings sitting on five lots are situated in a serene country setting, yet remain conveniently close to downtown Cleveland, just five miles away. Outdoor activities abound along the Hiawassee River such as white water rafting, fly fishing, canoeing and camping. Cleveland has several walking and hiking trails. The area is experiencing new development such as new restaurants and shopping venues. All units are on septic. Phase I went under contract and sold within 60 days. This is Phase II and we expect it to sell quickly. Ten units are currently leased with rents between $1,800 - $2,000/month. The remaining ten are being shown to prospective tenants and will be available for leasing within the next 2-6 weeks. There are no historical financials but this is a great investment opportunity for a new owner. Call or E-mail Agent for financial and other informational details.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$172 USD /SF

# OF UNITS

20

PRICE/UNIT

$250,000

CAP RATE

Request Cap Rate

% LEASED

70%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2024

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

Residential

APN/PARCEL ID

092-002.03

ASK ABOUT THIS PROPERTY

Joe PlevaKW CommercialMore Info
423-667-6204

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Joe PlevaKW CommercialMore Info
423-667-6204

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.