225 Iris Ln - 14x 3 bed / 2 bath units on 1 Tract 14 Unit Apartment Building Offered at $3,972,159 CAD at a 6.83% Cap Rate Crossville, TN 38555

A rare opportunity to purchase fourteen, 3 bed / 2 bath units, all on one tract of land.? 9 units built in 2022, 6 units completed 2025.? Great location!!
Please do not approach any of the tenants.? All showings have to be coordinated with the listing agent.?
Notes from Cumberland County Chamber of Commerce:
Cumberland County is situated atop the scenic Cumberland Plateau in east-central Tennessee.? The county seat of Crossville developed due to the strategic location of the crossroads through which settlers in the 1800s moved through the mountains along the old roads (Highways.? 127 & 70) to the north and south, and to the east and west.? Crossville’s convenient location, 113 miles from Nashville, 70 miles from Knoxville, 80 miles from Chattanooga, mild climate and beautiful scenery have made it an ideal place to call home.?
Crossville was incorporated in 1901 and has an average elevation of 1,890 feet, though the highest point in Cumberland County is 3,048 feet atop Hinch Mountain.? Located in the Central Time Zone, Crossville’s coordinates are N35° 57.15’ and W85° 01.53’.? Two additional incorporated cities, Crab Orchard and Pleasant Hill also lie within Cumberland County.?
Established in 1855 and named for the beautiful mountains surrounding it, Crossville has hosted a variety of historical events, programs and projects throughout time.? Now, it’s an inclusive city boasting with retirees, in addition to young professionals and travelers near and far.?
A place rich in history, local eateries and activities, there’s a little something for everyone in Crossville! Crossville was named after an intersection known as Lambeths’s Crossroads, which is todays intersection of Main Street and Stanley Street.? Also, the two main highways that cross paths in Crossville are US-70 and US-127.?
The Cumberland Homesteads came into existence during the Great Depression when the federal government’s Subsistence Homestead Division initiated a housing project south of Crossville.? The purpose of this project was to provide small farms for several hundred poverty-stricken families.? As a result, the project’s recreational area later became the center and basis for the Cumberland Mountain State Park.?