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.
For sale
Price cut: $50K (7/29)
$999,900
2861 Michigan Avenue Rd NE, Cleveland, TN 37323
--beds
0baths
4,948sqft
Est.:
Apartment, Multi Family, Townhouse
Built in 1997
-- sqft lot
$933,700 Zestimate®
$202/sqft
$-- HOA
What's special
Spacious layouts
- 100 days
- on Zillow |
- 80 |
- 5 |
Zillow last checked: 7 hours ago
Listing updated: July 28, 2025 at 05:56pm
Listed by:
Sommer Oder 423-790-6592,
RE/MAX Experience 423-790-3086
Source: RCAR,MLS#: 20251946

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
- Full bathrooms: 1
- 1/2 bathrooms: 1
Heating
- Central
Cooling
- Central Air
Appliances
- Included: Dishwasher, Electric Range, Refrigerator
- Laundry: Laundry Closet
Features
- Open Floorplan
- Flooring: Laminate
- Basement: Crawl Space
Interior area
- Total structure area: 4,948
- Total interior livable area: 4,948 sqft
- Finished area above ground: 4,948
- Finished area below ground: 0
Property
Parking
- Parking features: Concrete
Features
- Levels: Two
- Stories: 2
- Patio & porch: Deck
- Exterior features: None
- Fencing: None
Lot
- Features: Cleared
Details
- Additional parcels included: 050L B 017.00, 050L B 014.00, 050L B 015.00, 050L B 016.00, 050L B 017.00
- Parcel number: 050l B 01300 000
- Special conditions: Standard
Construction
Type & style
- Home type: Townhouse
- Architectural style: Other
- Property subtype: Apartment, Multi Family, Townhouse
Materials
- Brick Veneer, Vinyl Siding
- Foundation: Block
- Roof: Shingle
Condition
- Functional
- New construction: No
- Year built: 1997
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Sewer Connected
Community & HOA
Community
- Features: None
HOA
- Has HOA: No
Location
- Region: Cleveland
Financial & listing details
- Price per square foot: $202/sqft
- Tax assessed value: $97,800
- Annual tax amount: $5,755
- Date on market: 5/2/2025
- Listing terms: Cash,Conventional,Owner May Carry
- Tenant pays: All Utilities
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