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$ 1,568,000
Est. payment | /mo
$ 1,568,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Sub Type Other (See REMARKS)
Listing Status Active
Purchase Type For Sale
Subdivision Belvedere Gardens
MLS Listing ID 10219684
Year Built 1962
Annual Tax Amount $1,219
Property Sub-Type Other (See REMARKS)
Property Description
Investment Opportunity in Midtown Memphis! Seller is selling 19 individual units (42 total bedrooms & 19 bathrooms). Properties are professionally managed and seller is interested in a bulk sale buyer to buy all 19 doors. Monthly current rent is $17,410 per monthly and each individual unit has a $160 per monthly HOA fee. There are five 3 bedroom units, thirteen 2 bedroom units, and 1 one bedroom unit at the properties. Units have been well maintained and only one unit is vacant as of April 2026. Seller continues to upgrade & repair existing inventory as needed. Three bedroom units are renting for as much as $1325 monthly and two bedrooms are renting for as much as $1200 monthly. This could be a great addition to your rental portfolio. Existing management company is in place and will gladly continue to manage. Units include parking and washer/dryer connections on site. Stabilized pro forma is attached and included! ONLINE VIDEO AVAILABLE UPON REQUEST.
Location
State TN
County Shelby
Area Central Gardens
Interior
Heating Central
Cooling Central
Flooring Tile
Laundry Connections, Dryer in Unit, Washer in Unit
Exterior
Parking Features Concrete
Roof Type Built-Up,Flat
Building
Story 1
Foundation Other (See Remarks)
Water Public Sewer, Public Water
Listed by Tyler Tapley • Crye-Leike, Inc., REALTORS
Nearby Locations
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