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Key Details
Sold Price $400,000
Property Type Multi-Family, Condo
Sub Type Flat/Garden Units
Listing Status Sold
Purchase Type For Sale
Subdivision Parkway Gardens Inc
MLS Listing ID 10189374
Year Built 1948
Annual Tax Amount $4,191
Property Sub-Type Flat/Garden Units
Property Description
Lender says sale! This foreclosure property offers is a great and unique opportunity for redevelopment. This site features a two building, 36 unit garden style apartment. All units are 2/1s. Property needs repairs but could be worth a lot of money once fixed up. The property is anchored by nearby school to boost your tenant demand. This is an excellent value add opportunity. Property sits on multiple parcels totaling over 2.5 acres. Completely vacant. Boarded up. Market rents should be $700 - $950 per unit, depending on tenant situation and exact unit set up. Do not enter property without permission.
Location
State TN
County Shelby
Area South Memphis/61 Hwy
Interior
Heating Other (See Remarks)
Cooling Other (See Remarks)
Flooring Partial Carpet
Laundry None
Exterior
Parking Features Asphalt/Blacktop
Roof Type Shingle/Shake
Building
Foundation Slab
Water Other (See REMARKS)
Others
Acceptable Financing Cash
Listing Terms Cash
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Bought with Alton Cryer • Keller Williams
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