2038 Southern Ave

    Memphis, TN 38114
    • $750,000
    • STATUS: Active
    • ON SITE: 166 days
    • ID#: 10067522
    UPDATED: 42 min ago
    $750,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Ratings & Info

    Description

    Awesome investment opportunity just a couple streets south of the bustling Cooper-Young area and it's expanding! 24 Units, 9 x 1/1 and 15 x 2/1 13 Occupied, avg rent: $516 Work will need to be completed to bring up the occupancy rate. See photos; some units in varying condition. Will need rehab and updates to maximize rent! Great chance to add value and take these units in the direction you want to take them. These units are on the north side of Southern Ave, so they are teed up for success!

    Monthly Payment Calculator



    © 2020 Memphis Area Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Crye-Leike Realtors. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2020-05-26T23:03:09.517.
    www.yourkeytomemphishomes.com/homes/101660794

    2038 Southern Ave Memphis, TN 38114

    • Price: $750,000
    • Status: Active
    • Updated: 42 min ago
    • ID#: 10067522
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1960
    Built
    Neighborhood:
    Cooper Young
    County:
    Shelby
    Area:
    Central Gardens
    Property Description
    Awesome investment opportunity just a couple streets south of the bustling Cooper-Young area and it's expanding! 24 Units, 9 x 1/1 and 15 x 2/1 13 Occupied, avg rent: $516 Work will need to be completed to bring up the occupancy rate. See photos; some units in varying condition. Will need rehab and updates to maximize rent! Great chance to add value and take these units in the direction you want to take them. These units are on the north side of Southern Ave, so they are teed up for success!
    Exterior Features

    Buildings 4 Construction Brick/Veneer Foundation Slab Land Sq Ft 36735 Lot Size 158X232.5 Misc Exterior SidewalksWood Fence Parking Facility 1 Per UnitAsphalt/BlacktopGravel Roof Shingle/Shake

    Interior Features

    Appliances Equipment Other (See Remarks) Cooling Systems 1 Window Unit Per UnitCentralOther (See Remarks) Floors And Ceilings Hardwood ThroughoutTileWood Laminate Floors Heating Systems CentralGas Hot Water Other (See Remarks) Improved Sq Ft 15822 Laundry Connections Leaseable Sq Ft 15822

    Property Features

    1 Bedroom Units 9 2 Bedroom Units 15 3 Bedroom Units 0 Actual Annual Rent 80496 Amenities Dumpster Annual City Tax 5440 Annual County Tax 6992 Annual Insurance Expenses 6765 Annual Misc Income 0 Assumption No Assumption Contingency Type No Contingency Efficiency Studio Units 0 Existing Financing Conventional Fixed Gross Potential Annual Rent 194400 Legal Subdivision Name Cooper Lot Number 37 Multifamily Type Apartment Complex New Financing ConventionalExchangePrivate Operating Expenses InsuranceManagementRepairs/MaintenanceSome UtilitiesTaxesTrash Collection Other Units 0 Percent Occupancy 55 Possession At Closing Sale Includes All AppliancesAll EquipmentBuilding And LandSignage Source Of Info Current RecordsEstimatedLeasesOwnerP/L StatementProjectedRent Roll Tenant Pays Pet DepostSecurity DepositSome Utilities Type Of Leases MonthlyYear Type Of Units 1 Br - 1 Bath2 Br - 1 Bath Zoning Ru-3

    Listing information © 2020 Memphis Area Association of REALTORS®.
    Listing provided courtesy of Crestcore Realty, Llc.



    © 2020 Memphis Area Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Crye-Leike Realtors. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2020-05-26T23:03:09.517.
     
    Crye-Leike Realtors
    6525 Quail Hollow Road
    Memphis TN, 38120