Multi Family Located Near Downtown Memphis, Rent $400 Each Unit 8-Plex $3200 A Month!
Purchase Price: $225,000
Property Type: Multi Family
Beds/Baths: 16 beds, 8 baths
Square Feet: 5350 sqft
Lot Size: .2890 Acres
Year Built: 1964
Occupancy Status: 6 units currently rented-2 vacant
1074 Seventh St Memphis TN 38107
Insurance- $2300.00 a year
Yard Maintenance- $900 a year
PM FEE 8% -$256.00
Rent – $3200 a month.
All Utilities and trash pick up are paid by the tenants which is GREAT NEWS!!
Apartments have brand new roof, electrical, plumbing, ceramic tile floors, carpet, laminate flooring in high traffic areas. Very nice quiet 2 bedroom 1 bathroom apartments located downtown Memphis next door to BRAND NEW senior assisted living community!!
- Our sister company DCC RENTALS LLC can manage this property for you with ease 8% management fee which is negotiable if you allow us to manage more properties in your investment portfolio call 901-212-4476
- Stated gross returns and cash flow do not take into account vacancy and repairs that WILL happen over time.
- All investors should allocate a reserve for maintenance and vacancy for any investment property. Vacancy and repairs are variable cost factors that can increase or decrease from year-to-year that will impact yields over time.