1060 Merriwether Ave

    Memphis, TN 38105
    • $849,000
    • STATUS: Contingent
    • ON SITE: 61 days
    • ID#: 10061957
    Under Contract
    UPDATED: 7 min ago
    $849,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1966
    County:

    School Ratings & Info

    Description

    Proud to announce this 22 unit complex, located in the midtown/medical district area! Already stable but has the potential to be a VALUE ADD as well. The location is stellar and its a rare opportunity to be able to purchase a turn key complex in the area it is located in! 16 of the 22 units are rented! Professionally managed by a local property management company. Freshly painted railings and window seals throughout the exterior, More than half of the units have been rehabbed throughout.

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    © 2019 Memphis Area Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or All Stars Realty. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2019-11-17T10:03:10.12.
    www.memphispropertyfinder.com/homes/98992057

    1060 Merriwether Ave Memphis, TN 38105

    • Price: $849,000
    • Status: Contingent
    • Updated: 7 min ago
    • ID#: 10061957
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1966
    Built
    Neighborhood:
    Meriwether
    County:
    Shelby
    Area:
    Harbor Town/Downtown
    Property Description
    Proud to announce this 22 unit complex, located in the midtown/medical district area! Already stable but has the potential to be a VALUE ADD as well. The location is stellar and its a rare opportunity to be able to purchase a turn key complex in the area it is located in! 16 of the 22 units are rented! Professionally managed by a local property management company. Freshly painted railings and window seals throughout the exterior, More than half of the units have been rehabbed throughout.
    Exterior Features

    Buildings 4 Construction BrickBrick/Veneer Foundation Slab Land Sq Ft 32409 Lot Size 156.3/50+106.3 X 204/211.25 Misc Exterior SidewalksPartically Fenced Parking Facility Asphalt/Blacktop Roof Flat

    Interior Features

    Appliances Equipment RefrigeratorRange/Oven (Freestanding)Smoke Detector(S) Cooling Systems Central Floors And Ceilings Vinyl FloorPartial Carpet Heating Systems Central Hot Water ElectricalPublic WaterPublic Sewer Improved Sq Ft 14875 Laundry None Leaseable Sq Ft 14875

    Property Features

    1 Bedroom Units 0 2 Bedroom Units 22 3 Bedroom Units 0 Actual Annual Rent 11234 Amenities Dumpster Annual City Tax 2419 Annual County Tax 3110 Annual Insurance Expenses 5500 Assumption No Assumption Average Annual Utilities 7800 Contingency Type Other - See Remarks Efficiency Studio Units 0 Existing Financing Other (See Remarks) Gross Potential Annual Rent 14000 Legal Subdivision Name Meriwether & Pt Lot 5 Harvey Lot Number 1 Multifamily Type Apartment Complex New Financing ConventionalExchange Operating Expenses ManagementInsuranceSome UtilitiesRepairs/MaintenanceTaxes Other Units 0 Possession At ClosingTenants Rights Sale Includes Building And LandAll Appliances Source Of Info ProjectedLeasesRent Roll Tenant Pays Some UtilitiesHeatingGasElectricCable TvCoolingSecurity DepositPet Depost Type Of Leases Year Type Of Units 2 Br - 1 Bath

    Listing information © 2019 Memphis Area Association of REALTORS®.
    Listing provided courtesy of The Stamps Real Estate Company.



    © 2019 Memphis Area Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or All Stars Realty. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2019-11-17T10:03:10.12.
     
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