Description
Located in a strong rental neighborhood, this value-add investment is strategically positioned for a new buyer. The opportunity provides a new investor with the ability to achieve significant upside from a well-located asset. The property is located just 1 block from the Medical District and 1 mile from the Crosstown Concourse. Nicely manicured with an open, U shaped layout, the property feels large and welcoming. All units feature 1 bedroom and 1 bathroom. The current owner has fully renovated 6 of the 10 units along with other capital improvements, including window, plumbing, and electrical updates, as well as a new roof in 2022. A few upgrades and some well-placed capital improvements by a new investor can significantly drive both rents and long-term value.
Details
| MLS # | 10184186 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1959 |
| Days On Site | 720 |
| Listing Provided By | Prime Real Estate Group | Jessica Sewell |
Features
| Story(s) | 1 |
|---|---|
| Units | 10 |
| Building(s) | 1 |
Interior
| Appliances Or Equipment | Range/Oven (Freestanding), Refrigerator, Smoke Detector(s) |
|---|
Exterior
| Roof | Composition |
|---|---|
| Construction | Brick |
| Foundation | Slab |
Parking
| Parking Facility | Gravel, Offsite/Street |
|---|
Area Information
| State | TN |
|---|---|
| County | Shelby |
| City | Memphis |
| Zip Code | 38105 |
| Area | Harbor Town | Downtown |
| Subarea | 741E |
| Community Name | Lane |
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Learn More About This Property
| State | TN |
|---|---|
| County | Shelby |
| City | Memphis |
| Zip Code | 38105 |
| Area | Harbor Town | Downtown |
| Subarea | 741E |
| Community Name | Lane |