Description
$735,000 Assumable first position! 14 Unit complex in the heart of the medical district is a great addition to any buyers portfolio! 13/14 units are currently occupied bringing in $11,431/Month. All units are 2BR/1BA's. Over $250,000 of upgrades have been put into the complex over the last three years. Notably, a brand new roof 2 years ago and additional exterior & interior rehabs. Value-add potential exists because some rents are currently below market, rent roll of $15,500+/month once all units are renovated. Fantastic location on the corner of Greenlaw & 7th St. Minutes from downtown St. Jude Hospital, which is in the process of a 6yr 12.9 BILLION dollar expansion. Located in a high-growth corridor including new retail such as Chick-fil-A, this property is uniquely positioned to attract quality tenants and achieve full market rents. Current rent roll and T12 financials available for qualified buyers.Seller is open to holding a 2nd lien on anything over $1m for qualified offer.
Details
| MLS # | 10211134 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1968 |
| Days On Site | 324 |
| Listing Provided By | Realty International, Inc. | Steven Strand |
Features
| Units | 14 |
|---|---|
| Building(s) | 3 |
Exterior
| Roof | Composition |
|---|---|
| Construction | Brick |
| Foundation | Slab |
Parking
| Parking Facility | Asphalt/Blacktop |
|---|
Area Information
| State | TN |
|---|---|
| County | Shelby |
| City | Memphis |
| Zip Code | 38105 |
| Area | Harbor Town | Downtown |
| Subarea | 741C |
| Community Name | GWYNNE & GIBSON |
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Learn More About This Property
| State | TN |
|---|---|
| County | Shelby |
| City | Memphis |
| Zip Code | 38105 |
| Area | Harbor Town | Downtown |
| Subarea | 741C |
| Community Name | GWYNNE & GIBSON |
 | $239,900637 Greenlaw PlMemphis, TN 38107 |
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