$7,874,900
37000422 Stephens Road, Cleveland, TN 37312
Excellent Investment Opportunity!
Well maintained 92-unit apartment community in Prime Cleveland Location.
Positioned in an outstanding location just 5 minutes from everything Cleveland has to offer. This well-established 92-unit apartment community provides a strong investment opportunity with a desirable unit mix & extensive recent improvements.
The property consists of:
64 one-bedroom/one bath units,
19 two bedroom/one and a half bath units,
8 two bedroom/one and a half bath units with washer & dryer hookups, and
1 one bedroom/one bath unit with washer & dryer hookup, offering attractive options for a wide range of tenants. The owner currently pays water & sewer, & tenants enjoy access to a community laundry facility with pay-per-use washers & dryers.
Significant capital improvements have been completed throughout the complex, including replacement of the main water line, new roofs, new windows, new steel steps, new paving, new gutters, updated siding and exterior paints, & new dumpsters.
Interior upgrades include Allure Traffic Master flooring installed in approximately 90 percent of the units, new HVAC systems in an estimated 80 percent of the units, & new appliances. In addition, the property has benefited from the removal of a substantial number of trees, enhancing both visibility & overall curb appeal.
Located in a superb, highly convenient area of Cleveland, this apartment community offers residents quick access to shopping, dining, schools, & major routes, making it a consistently desirable place to live.
A rare opportunity to acquire a large apartment complex in a prime location with numerous recent improvements already in place.
Seven buildings were built in 1978 & the other seven buildings were built in 1984.
Details
Map
37000422 Stephens Road, Cleveland, TN 37312