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605 E Mclemore Ave

Memphis, TN 38106
  • $1,750,000
  • STATUS: Active
  • ON SITE: 74 Days
  • ID#: 10133887
UPDATED: 36 min ago
$1,750,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1963
County:

School Ratings & Info

Description

36 unit apartment complex in Stax Museum area (Opportunity Zone!). All units are 2 bed/1 bath. Current scheduled monthly income is $13,125. Serious upside in rents across the board. Sale to include the 2 parcels the buildings are on, plus 5 vacant parcels behind the property as well, a total of 1.348 acres.

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© 2022 Memphis Area Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Real Estate Agency. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2022-12-04T16:03:08.78.
www.justlistedhousesinmemphis.com/homes/133264548
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605 E Mclemore Ave Memphis, TN 38106

  • Price: $1,750,000
  • Status: Active
  • On Site: 74 Days
  • Updated: 36 min ago
  • ID#: 10133887
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1963
Built
Neighborhood:
Trigg
County:
Shelby
Area:
South Memphis/61 Hwy
Property Description
36 unit apartment complex in Stax Museum area (Opportunity Zone!). All units are 2 bed/1 bath. Current scheduled monthly income is $13,125. Serious upside in rents across the board. Sale to include the 2 parcels the buildings are on, plus 5 vacant parcels behind the property as well, a total of 1.348 acres.
Exterior Features

Buildings 2 Construction Brick Foundation Slab Land Sq Ft 21344 Lot Size 21384 SF Parking Facility Asphalt/BlacktopConcreteGravelMore Than 1 Per Unit Roof CompositionPitched

Interior Features

Appliances Equipment Range/Oven (Freestanding)Refrigerator Cooling Systems 1 Window Unit Per Unit Floors And Ceilings 8 FeetDry WallPartial CarpetTile Heating Systems GasWall Heat Hot Water GasPublic Water Improved Sq Ft 11388 Laundry None Leaseable Sq Ft 11388

Property Features

1 Bedroom Units 0 2 Bedroom Units 36 3 Bedroom Units 0 Actual Annual Rent 204300 Annual City Tax 1677 Annual County Tax 2073 Annual Insurance Expenses 12000 Annual Land Lease Payment 0 Annual Misc Income 0 Assumption No Assumption Average Annual Utilities 720 Contingency Type No Contingency Efficiency Studio Units 0 Existing Financing Conventional Fixed Gross Potential Annual Rent 302400 Legal Subdivision Name Trigg Multifamily Type Apartment Building New Financing ConventionalExchange Operating Expenses InsuranceLicense/PermitsPest ControlRepairs/MaintenanceTaxes Other Units 0 Percent Occupancy 86 Possession At Closing Sale Includes Building And LandSome Appliances Source Of Info LeasesOwnerRent Roll Tenant Pays All Utilities Type Of Leases Year Type Of Units 2 Br - 1 BathUnfurnished Zoning Comm

Listing information © 2022 Memphis Area Association of REALTORS®.
Listing provided courtesy of Prime Real Estate Group: 509-220-0128.



© 2022 Memphis Area Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Real Estate Agency. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2022-12-04T16:03:08.78.
 
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7455 McVay Station Ct, Ste 101
Germantown TN, 38138