$725,000
$750,000
3.3%For more information regarding the value of a property, please contact us for a free consultation.
52,359 SqFt
SOLD DATE : 09/12/2022
Key Details
Sold Price $725,000
Property Type Multi-Family
Sub Type Apartment Complex
Listing Status Sold
Purchase Type For Sale
Square Footage 52,359 sqft
Price per Sqft $13
Subdivision Latham & Stewart
MLS Listing ID 10128431
Sold Date 09/12/22
Year Built 1959
Annual Tax Amount $4,249
Property Description
Rare opportunity to acquire a value-add apartment in an up and coming area, located in a qualified opportunity zone! This complex is 34 units, all 2 BR 1 Ba w/ Pitched Roofs, Central A/H & new security gate around the complex. Once stablized & rented annual gross potential rent is $306,000. Willie Mitchell world famous studio is located across the street, a 10 minute drive to Downtown Memphis, 15 mins to the Airport/FedEx World Hub & 5 mins to developing Soulsville. Contact me w/ questions!
Location
State TN
County Shelby
Area South Memphis/61 Hwy
Interior
Heating Central
Cooling Central
Flooring 8 Feet, Dry Wall, Hardwood Throughout, Partial Carpet
Laundry None
Exterior
Garage Asphalt/Blacktop, More Than 1 Per Unit
Roof Type Composition,Pitched,Shingle/Shake
Building
Story 2
Foundation Slab
Water Gas
Others
Acceptable Financing Cash
Listing Terms Cash
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Bought with John C Cornes • Braden, Braden & Braden LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "