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563 Central Avenue NE, Cleveland, TN 37311

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For Sale

$1,397,400

12 beds • 6 baths • 5,184 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • $269.56
    Price per square foot

  • 41-50 Years Old
    Age

Explore this Property

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!
MLS# 1505498

Courtesy Of Keller Williams Realty

(423) 664-1600

Property Features

  • Age
    41-50 Years Old
  • Amenities
    Dock
  • Appliances
    Range
  • Architecture Style
    Other
  • Exterior Type
    Vinyl Siding
  • Floor Covering
    Laminate, Linoleum
  • Lot Size
    1 Acres

Map and Directions

Directions to 563 Central Avenue NE, Cleveland, TN 37311

Home seller CENTURY 21 1st Choice Realtors

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 1st Choice Realtors

(423) 478-2332
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Monthly Payment Breakdown

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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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Copyright © 2025 Greater Chattanooga Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data powered by Attom Data Solutions. Copyright© 2024. Information deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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