3
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$1,099,000
Est. payment /mo
Price Dropped by $100K
325 GREENLAW AVE Memphis, TN 38105
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Key Details
Property Type Multi-Family, Condo
Sub Type Apartment Complex
Listing Status Active
Purchase Type For Sale
Subdivision Gwynne + Gibson
MLS Listing ID 10211134
Year Built 1968
Annual Tax Amount $5,564
Property Sub-Type Apartment Complex
Property 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.
Location
State TN
County Shelby
Area Harbor Town/Downtown
Interior
Heating Central
Cooling Central
Flooring Vinyl Floor
Laundry Connections
Exterior
Parking Features Asphalt/Blacktop
Roof Type Composition
Building
Foundation Slab
Water Gas
Listed by Steven D Strand • Realty International, Inc.
NEARBY SCHOOL & BUSINESS
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