Joe Spake, Broker
InCity Realty
2298 Young Ave.
Memphis, TN 38104
Office: 901-214-5838
901-870-3440
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Listing 19 out of 132
$3,600,000 Contingent

975 Meda
Memphis, TN 38104

51 units | Multi Family Home - MLS# 10058964
Property Photo
1/18

Description

Unique apartment PACKAGE of 51 units on 18 properties all located in MIDTOWN. Each property is 2, 3 or 4 units. Neighborhoods include Midtown, Central Gardens, Cooper-Young, Evergreen and Vollintine/Evergreen. All units 100% occupied in July. Investors could keep the rentals cash flowing as is, upgrade & increase rents, turn some units into short rentals, or turn some into condos. Priced @ $70k/unit, Cap Rate 8%. Owner will not separate package. Call Perk Realty for package details.

Features

  • Property Type: Multi Family Home
  • Sub Type: Other (See REMARKS)
  • Listing Status: Contingent
  • County/Area: Shelby County
  • Zip Code: 38104
  • Year Built: 1923
  • Subdivision/Neighborhood: Cooper Young
  • Units: 51 units
  • Lot Size: 50 X 120
  • Area: 746K
  • # 1 Bedroom Units: 24
  • # 2 Bedroom Units: 13
  • # 3 Bedroom Units: 11
  • # Efficiency/Studio Units: 2
  • # Of Buildings: 18
  • Actual Annual Rent: 464000
  • Construction: Other (See Remarks)
  • Cooling Systems: Individual Cooling
  • Floors/Ceilings: Other (See Remarks)
  • Foundation: Conventional/Crawl Space
  • Gross Potential Annl Rent: 540000
  • Heating Systems: Individual Systems
  • Hot Water: Individual System
  • Laundry: Washer in Unit,Dryer in Unit
  • Lot #: 8-9
  • Operating Expenses: Management
  • Parking Facility: 1 Per Unit
  • Percent Occupancy: 100
  • Roof: Shingle/Shake
  • Sale Includes: Building and Land,All Appliances
  • Tenant Pays: Other (Call LA)
  • Type Of Leases: Year
  • Type Units: Efficiency/Studio,1 BR - 1 Bath,2 BR - 1 Bath,3 BR - 1 Bath,3 BR - 1+ Baths,Unfurnished
Courtesy of Perk Realty

Joe Spake, Broker
InCity Realty
TN Lic. #259388

Memphis, TN 38104
Joe@Spake.com
901-870-3440

Testimonials

Thanks, Joe for being such a great help in buying our condo! If you are considering buying or selling in Memphis, give Joe Spake a try. He knows what he is doing, knows all the people, knows all the tricks, and is very honest with you. Sometimes telling you things you may not want to hear. Joe  makes the buying process easy, explains every detail along the way, so you know exactly where you are in the process. Thanks again, Joe! dwaynebutcher
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