16 Unit 1 Bed 1 bath Apartment Complex-Near Downtown Memphis!!!
Property Type: 16 UNIT APARTMENT COMPLEX
Beds/Baths: 16 beds, 16 baths
Square Feet: 9,100 sqft
Year Built: 1957- 8 units rehabbed in 2024
Occupancy Status: ONLY 3 Vacant units- Average rents $445 a month
DESCRIPTION:
Several units were renovated 16 Unit Apartment Complex 1 Bedroom and 1 bath in each unit- .Located walking distance from beautiful downtown Memphis TN. UNLIMITED possibilities and potential with this property and its location!!
16 units average Rent $445 or a month with a $250 Deposit Tenants pay their own utilities, city picks up Trash FREE included in Tenants Utility Bill.
Owner pays for the water Average Water bill is $125 a month.
Potential rent if all units are updated last update was in 2010, rents could be pushed up to $600 a month!!
16 x $600 = $9,600K a month in Potential Rent!!
Insurance – $3,400 a year
Taxes – $2,977 a year
Mailing Address – 24 W Colorado Ave Memphis TN 38106
WATCH VIDEO!
- 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.
Memphis Buy And Hold is specializing in locating, purchasing, renovating and managing single-family and multi-unit properties and possesses from 2007 up to the present of experience in real estate investing and property management in the Memphis and Nashville markets.
