Multifamily Property for Sale in Cleveland, TN

  • Price: $1.1M
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Cleveland, TN 37312
  • Size: 6,400 SF
  • Year built: 1984

Description

*Multi-Family Investment Package* SIX Units - Each Unit consists of 2 bedrooms, 1.5 bathrooms, approximately 1,090 square feet.​ Located in charming, and fast growing Cleveland, TN, less than 10 minutes from Lee University and walkable to Publix and the local mall, these units will have no problems maintaining occupancy.​ Current rental rates are below market value.​ The six units included in this portfolio have been well maintained, and have consistently remained leased.​ Building SF: 6400 | Year Built: 1984 | Listing Type: FOR SALE

Market Context

This multifamily in Cleveland, TN is listed for sale at $1,150,000 across 6,400 SF. It is offered at an approximate 4.7% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1984. It has been on the market for 23 days. Compare it against other multifamily listings for sale in Cleveland, TN — <a href="/search/sale/multifamily/tennessee/cleveland">view the full market</a>.

As of Q1 2026, the Cleveland multifamily market showed average asking rents near $1900.00/unit/mo, and cap rates around 8.8%. Source: Consensus Q1 2026 market report.

Its 4.7% asking cap rate is below the Cleveland multifamily market average of about 8.8%, reflecting premium pricing relative to comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Cleveland?
About 8.8% as of Q1 2026, per Consensus.

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