1297 Willie Mitchell Blvd - Apartments FOR SALE


Memphis, TN 38106- South Memphis
$1,250,000 USD
901-881-2070
1297 Willie Mitchell Blvd, Memphis, TN for Sale
$1,250,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

1297 Willie Mitchell Blvd
Memphis, TN 38106
South Memphis


HIGHLIGHTS

  • Located less than 10 Minutes to Downtown Memphis, Less than 15 Minutes to the Memphis Airport / FedEx World Hub
  • Value-Add Opportunity w/ tremendous upside!
  • Some Renovations Have Been completed

OVERVIEW

Value-Add Opportunity Apartment complex for sale with tremendous upside. 33 Units, all 2 BR / 1BA with Central A/H. Past renovations include new Laminate flooring, new roofs, gas-line removed so all electric complex, new asphalt parking lot and tile in kitchens. Proforma is $2.1M at 9.5% CAP Rate. Tenants pay all utilities except for water. Located near the Soulsville community that has seen recent growth with new schools and located in a TIF district. Less than 10 minutes to downtown Memphis and less than 20 minutes to the Memphis Airport / FedEx World Hub and Fulfillment centers

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$60 USD /SF

# OF UNITS

33

PRICE/UNIT

$37,879

CAP RATE

Request Cap Rate

% LEASED

12%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Willie Mitchell Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.2 AC

LAND SF

52,272 SF

ZONING

RMM

APN/PARCEL ID

02-5059-0-0010

ASK ABOUT THIS PROPERTY

John CornesBraden Braden & Braden LLCMore Info
901-881-2070

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John CornesBraden Braden & Braden LLCMore Info
901-881-2070

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.