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.
Active
$999,900
2861 Michigan Avenue Rd NE, Cleveland, TN 37323
--beds
--baths
4,948sqft
Multi Family
Built in 1997
-- sqft lot
$-- Zestimate®
$202/sqft
$-- HOA
What's special
- 80 days |
- 143 |
- 12 |
Zillow last checked:
Listing updated:
Listed by:
Sommer Oder-Bailey 423-790-3086,
RE/MAX Experience 423-790-3086
Source: RealTracs MLS as distributed by MLS GRID,MLS#: 3214706
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Facts & features
Interior
Heating
- Central
Cooling
- Central Air
Features
- Flooring: Laminate
Interior area
- Total structure area: 4,948
- Total interior livable area: 4,948 sqft
Property
Parking
- Parking features: Concrete
Features
- Levels: Three Or More
- Stories: 2
Details
- Parcel number: 050L B 01700 000
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Vinyl Siding, Other
- Roof: Shingle
Condition
- New construction: No
- Year built: 1997
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Water Available
Community & HOA
HOA
- Has HOA: No
Location
- Region: Cleveland
Financial & listing details
- Price per square foot: $202/sqft
- Tax assessed value: $154,400
- Annual tax amount: $1,327
- Date on market: 4/7/2026
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 4/7/2026 | Listed for sale | $999,900$202/sqft |
Source: | ||
| 4/1/2026 | Listing removed | $999,900$202/sqft |
Source: | ||
| 2/2/2026 | Listed for sale | $999,900$202/sqft |
Source: | ||
| 8/31/2025 | Listing removed | $999,900$202/sqft |
Source: | ||
| 7/29/2025 | Price change | $999,900-4.8%$202/sqft |
Source: | ||
| 7/21/2025 | Price change | $1,049,900-4.6%$212/sqft |
Source: | ||
| 5/2/2025 | Listed for sale | $1,100,000+633.3%$222/sqft |
Source: | ||
| 11/4/2022 | Sold | $150,000-60%$30/sqft |
Source: | ||
| 10/20/2010 | Listing removed | $374,900-0.8%$76/sqft |
Source: Exit Realty-The Covenant Group #156503 Report a problem | ||
| 5/29/2010 | Price change | $377,900-0.5%$76/sqft |
Source: Exit Realty-The Covenant Group #156503 Report a problem | ||
| 2/20/2010 | Listed for sale | $379,900$77/sqft |
Source: Exit Realty-The Covenant Group #156503 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | -- | $61,760 +57.9% |
| 2024 | $563 | $39,120 |
| 2023 | $563 +26.2% | $39,120 +26.2% |
| 2022 | $446 -54.4% | $31,000 |
| 2021 | $977 -7.7% | $31,000 +12.5% |
| 2019 | $1,059 +2% | $27,560 |
| 2018 | $1,039 0% | -- |
| 2017 | $1,039 +13.8% | -- |
| 2016 | $913 | -- |
| 2015 | $913 | -- |
| 2014 | $913 | -- |
| 2013 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 37323
Nearby schools
GreatSchools rating
- 5/10Mayfield Elementary SchoolGrades: PK-5Distance: 2.1 mi
- 4/10Cleveland Middle SchoolGrades: 6-8Distance: 4.5 mi
- 7/10Cleveland High SchoolGrades: 9-12Distance: 3.2 mi
Schools provided by the listing agent
- Elementary: Mayfield Elementary
- Middle: Cleveland Middle
- High: Cleveland High
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.
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
- Tennessee
- Bradley County
- Cleveland
- 37323
- 2861 Michigan Avenue Rd NE





