Gated Delmar-Lema Historic District Village with 23 units near the Medical District. 6.67% pro-forma cap rate. 1 bed/1bath units with extensive capital improvements: LVP flooring, interior paint, new plumbing, stainless steel appliances, central heat and A/C, and more. Exteriors have fresh paint and newer roofing. Entire perimeter is fenced with solar powered security gate at entrance. Just blocks from the VA Medical Center, LeBonheur Children's Hospital, Regional One, and close to downtown Memphis. Surrounding area is currently being revitalized with many new & upcoming developments.