2861 Michigan Ave Road NE, Cleveland, TN 37323
Bradley County
Key Facts
Description
Turnkey 5-Unit Townhouse Investment - Great Location + Partial Owner Financing Available Excellent opportunity to own a fully tenant-occupied 5-unit apartment building in a highly desirable, high-demand area. Each unit is a well-maintained 2-bedroom, 1.5-bathroom townhouse, offering spacious layouts ideal for attracting and retaining quality tenants. This income-producing property is fully rented, providing immediate cash flow and low vacancy risk. Located near major amenities, shopping, and schools, it's perfectly positioned for long-term growth and stability. Partial owner financing available* making this an ideal choice for investors looking to expand their portfolio with flexible terms. Property Highlights: - 5 Spacious Townhouse Units - Each Unit: 2 Bedrooms, 1.5 Bathrooms - Fully Tenant Occupied - Strong Rental History - Prime Location Near Amenities, Shopping, Resturaunts & Schools - Partial Owner Financing Available Don't miss this rare chance to acquire a stable, income-generating asset with built-in tenant base and financing flexibility. Financials available upon request.
Property Information
Property Type
Residential Income
Sub-Type
Quadruplex
Structure Type
Townhouse / Multi Family
Year Built
1997
Living Area
4,948 sq ft
MLS® Listing#
20261783
Property Features
Interior
Exterior
Appliances
Cooling
Heating
Flooring
Basement
Parking
Laundry
Patio
Fencing
Lot Features
Construction
Foundation
Roof
Community
Utilities
Sewer
Water Source
Schools
- Elementary:
- Mayfield
- Middle:
- Cleveland
- High:
- Cleveland
Financial Details
HOA
None
Annual Taxes
$1,327
Parcel Number
050l B 017.00
Directions
From I-75 take Paul huff parkway all the way to Stuart Rd and continue all the way to Michigan Avenue. Take a right onto Michigan Avenue and the property is on the right.
Affordability Calculator
$199,980
Estimated monthly payment
$5,322/mo
Principal $799,920 · Est. interest $1,115,960 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Cleveland, TN
- $372,053
- Median Listing Price
- 64
- Median Days on Market
- 1,884
- Median Sq Ft
- $204
- Median Price / Sq Ft
- 1,396
- Active Listings
- This home’s price is 169% above the area median.
- Its price per sq ft is 1% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Cleveland, TN.
Location
Points of Interest in Cleveland, TN
Showing the Cleveland area map.
Nearby Schools
Michigan Avenue Elementary School
Elementary · 0.4 mi away
Michigan Avenue School Pto -Mas Pto
School · 0.4 mi away
Park View Elementary School
Elementary · 1.2 mi away
Oak Grove Elementary School
Elementary · 1.8 mi away
Bowman Hills School
School · 2.1 mi away
Mayfield Elementary
Elementary · 2.1 mi away
Bradley County Virtual School
Secondary · 2.2 mi away
Pie Innovation Center
Secondary · 2.3 mi away
NC High School Ministry
Secondary · 2.3 mi away
Ocoee Middle School
Secondary · 2.4 mi away
F.I. Denning Center of Technology & Careers
School · 2.9 mi away
Arnold Memorial Elementary School
Elementary · 2.9 mi away
Blythe Avenue Head Start
School · 3.0 mi away
George R. Stuart Elementary School
Elementary · 3.1 mi away
Cleveland High School
Secondary · 3.1 mi away
Cleveland Christian Fellowship
School · 3.1 mi away
North Lee Elementary School
Elementary · 3.1 mi away
United Christian Academy
School · 3.2 mi away
International School of the Word
School · 3.3 mi away
Wesley Methodist Preschool
School · 3.3 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 250 15th Street NW, Cleveland, TN | $712,000 | 5 | 3 | 3,564 |
| 250 15th Street NW, Cleveland, TN | $712,000 | 5 | 3 | 3,564 |
| 4478 4580 Waterlevel Highway, Cleveland, TN | $725,000 | — | — | — |
| 44784580 Waterlevel Highway, Cleveland, TN | $725,000 | — | — | — |
| 5853 Dalton Pike SE, Cleveland, TN | $735,000 | 3 | 2 | 2,367 |
| 680 SE Horton Rd, Cleveland, TN | $740,000 | 4 | 3 | 2,232 |
Moving Cost Estimate
EXIT Agents in Cleveland
Listing Courtesy: RE/MAX Experience - 4237903086