Income-Producing Investment Opportunity with Retail Space
Excellent investment opportunity featuring nine one-bedroom apartments and a central retail space, all conveniently located on one level. Eight of the nine apartments are occupied. The property is designed with four apartment units on each side of the retail space and one apartment off the back of the building, creating an efficient layout and strong income potential.
Each apartment has been updated with luxury vinyl plank flooring and renovated bathrooms, offering tenants modern finishes and low-maintenance living. The property enjoys consistent occupancy and provides immediate cash flow for investors.
Situated in the county, this mixed-use property offers flexibility, steady rental income, and room for long-term appreciation. Whether you're looking to expand your portfolio or add a stable income-producing asset, this property presents a rare opportunity to own a well-maintained, fully leased investment property with both residential and commercial components.
Call today for additional financial information and to schedule a private tour.
Call today for additional financial information and to schedule a private tour. Please allow 24 hr for showing notice because all units are occupied
Active
Price cut: $25K (8/20)
$700,000
1242 Ladd Springs Rd SE, Cleveland, TN 37323
12beds
12baths
8,814sqft
Multi Family
Built in 1976
-- sqft lot
$-- Zestimate®
$79/sqft
$-- HOA
What's special
Low-maintenance livingModern finishesRenovated bathroomsNine one-bedroom apartments
- 80 days
- 144
- 6
Zillow last checked:
Listing updated:
Listed by:
Tammy Johnson 423-476-5532,
Coldwell Banker Kinard Realty 423-476-5532
Source: RealTracs MLS as distributed by MLS GRID,MLS#: 3243081
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 12
- Bathrooms: 12
Heating
- Other
Cooling
- Other
Features
- Flooring: Luxury Vinyl
Interior area
- Total structure area: 8,814
- Total interior livable area: 8,814 sqft
- Finished area above ground: 8,814
Property
Parking
- Parking features: Asphalt
Features
- Levels: One
- Stories: 1
Details
- Parcel number: 082 00602 000
- Zoning: Commercial
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- ICFs (Insulated Concrete Forms), Other
- Roof: Other
Condition
- New construction: No
- Year built: 1976
Utilities & green energy
- Sewer: Septic Tank
- Water: Public
- Utilities for property: Water Available
Community & HOA
Community
- Security: Smoke Detector(s)
- Subdivision: None
HOA
- Has HOA: No
Location
- Region: Cleveland
Financial & listing details
- Price per square foot: $79/sqft
- Annual tax amount: $932
- Date on market: 6/15/2026
- Inclusions: No Furnishing
- Total actual rent: 2575
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/20/2026 | Price change | $700,000-3.4%$79/sqft |
Source: | ||
| 8/8/2026 | Price change | $725,000-3.3%$82/sqft |
Source: | ||
| 7/1/2026 | Price change | $750,000-6.3%$85/sqft |
Source: | ||
| 6/15/2026 | Listed for sale | $800,000+113.3%$91/sqft |
Source: | ||
| 6/2/2020 | Listing removed | $375,000$43/sqft |
Source: Clarity Property Service #20196659 Report a problem | ||
| 11/14/2019 | Listed for sale | $375,000$43/sqft |
Source: Clarity Property Service #20196659 Report a problem | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 37323
Nearby schools
Schools provided by the listing agent
- Elementary: Waterville Community Elementary School
- Middle: Lake Forest Middle School
- High: Bradley Central High School
Source: RealTracs MLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

