Description
Includes adjacent parcel # 051006 00011 (0.17 Ac) Positioned across from Le Bonheur Children's Hospital, these two adjacent lots feature a 9-unit, 4,176 sq ft apartment building on 23,958 sq ft of total land, plentiful for developing more units, designated parking, etc. All units are 1B/1Ba, with 8/9 renovated and currently rented at $500 and $650, allowing for immediate cash flow and opportunity to continue forcing appreciation while increasing rents. Renovated units have new breakers, cabinetry, central heat, electric utilities, LVP flooring, PEX plumbing, tile tub surround, toilets, vanities, water heaters, windows, and a firewall between every 3 units, with the roof being replaced 4-5 years ago. With over $1.3B of healthcare improvement projects through 2031 in the Medical District, this investment is ideal for capitalizing in a rapidly growing area!
Details
| MLS # | 10230922 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1956 |
| Days On Site | 42 |
| Listing Provided By | Braden, Braden & Braden LLC | Dylan Andrews |
Features
| Story(s) | 1 |
|---|---|
| Units | 9 |
| Building(s) | 1 |
Exterior
| Roof | Shingle/Shake |
|---|---|
| Construction | Brick |
| Foundation | Slab |
Parking
| Parking Facility | Offsite/Street |
|---|
Area Information
| State | TN |
|---|---|
| County | Shelby |
| City | Memphis |
| Zip Code | 38105 |
| Area | Harbor Town | Downtown |
| Subarea | 741E |
| Community Name | HOLMES |
| Listing VS Median (in HOLMES) | |
Price: $1,250,000 low | high Med: $0 On site: 42 low | high Med: | |
Market Activity 38105
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Learn More About This Property
| State | TN |
|---|---|
| County | Shelby |
| City | Memphis |
| Zip Code | 38105 |
| Area | Harbor Town | Downtown |
| Subarea | 741E |
| Community Name | HOLMES |
| Listing VS Median (in HOLMES) | |
Price: $1,250,000 low | high Med: $0 On site: 42 low | high Med: | |
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