REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,295,000
Est. payment | /mo
$ 1,295,000
Est. payment | /mo
Key Details
Property Type Multi-Family, Condo
Sub Type Apartment Building
Listing Status Active
Purchase Type For Sale
Subdivision Willis
MLS Listing ID 10231495
Year Built 1974
Annual Tax Amount $8,184
Property Sub-Type Apartment Building
Property Description
16–25 UNIT INVESTMENT OPPORTUNITY | 100% OCCUPIED! Excellent opportunity to acquire a fully occupied, income-producing 16-unit apartment building in Memphis. All units feature two bedrooms, with significant renovations completed in 2022. Offered at $1,295,000, approximately $80,938 per unit. Investors can also acquire the adjoining 9-unit building at 1695 Ontario for a combined 25-unit portfolio price of $1,695,000—just $67,800 per unit! Established rental income, additional income potential and existing property management available to remain in place. Ideal for investors looking to expand their multifamily portfolio. Financials and rent roll available upon request. Owner financing may be considered for the combined portfolio, subject to acceptable terms. Owner/Agent
Location
State TN
County Shelby
Area Frayser - East
Interior
Heating Central
Cooling Central
Flooring Other (See Remarks)
Equipment Other (See REMARKS)
Laundry Common Laundry
Exterior
Parking Features Asphalt/Blacktop
Roof Type Other (See REMARKS)
Building
Story 2
Foundation Slab
Water Electrical
Listed by Robert P Newman • RP Newman Realty LLC
Nearby Locations
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "