Key Details

Property Type Multi-Family, Condo

Sub Type Apartment Complex

Listing Status Active

Purchase Type For Sale

Subdivision Gaither

MLS Listing ID 10217072

Year Built 1965

Annual Tax Amount $1,311

Property Sub-Type Apartment Complex

Property Description

Investor opportunity! Six unit multifamily property consisting of 6 2bed/1bath units with approximately 3,888 total square feet. Each unit has individual utilities, helping reduce owner expenses. Six units offer upside: 4 are currently under rented & 2 are vacant. There is immediate value add and potential to boost cash flow! Units #1, #3, and #5 have been renovated, adding to the property's appeal and rental potential. Unit #5 is rent ready, while Unit #2 was recently vacated and freshly painted. Unit #4 was renovated about two years ago and remains in good condition. Unit #6 has a long term tenant. Four units are equipped with gas wall heaters and two units feature newer hardwired electric heaters. *Current rents: Unit 1: $650, Unit 2: Vacant, Unit 3: $992 (Section 8), Unit 4: $600, Unit 5: Rent Ready, Unit 6: $525. Strong investment opportunity with value add potential.

Location

State TN

County Shelby

Area South Memphis/61 Hwy

Interior

Heating Electrical, Gas

Cooling Other (See Remarks)

Flooring Other (See Remarks)

Laundry None

Exterior

Parking Features Concrete

Roof Type Other (See REMARKS)

Building

Foundation Other (See Remarks)

Water Other (See REMARKS)

Read Less Info

Listed by Jonathan Nunez • Fast Track Realty, LLC

Nearby School & Business

Get More Information

Eddie Aeschliman

+1(901) 860-3302

Broker

736 RICHMOND AVE Memphis, TN 38106