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38 Units in Cleveland TN | Priced to Sell

By: Solange Velas, CCIM
Pine Creek Apartments Cleveland

These apartments, near downtown and local shopping, offer good upside potential and an 8.3% cash-on-cash return.

This attractive 38-unit apartment complex is great for investors. Priced to sell, the units offer below-market rents and an 8 cap on actual financials.

In charming Cleveland, Tenn., the property is well located to downtown and local shopping. Only 35 minutes from downtown Chattanooga and 20 minutes from the Volkswagen plant.

  • Price: $795,000 (current tax appraisal: $838,500)
  • Rents: Below market — good upside potential
  • Cap Rate: 8% on actual financials

Download Pine Creek Offering Memorandum

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Solange Velas, CCIM

Solange Velas, CCIM has been involved in the sale of more than 300 properties in the Knoxville area alone. She is known as the premier multifamily broker in East Tennessee. vCard

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