3989 N Watkins St - Apartments FOR SALE


Memphis, TN 38127- Frayser
$1,295,000 USD
901-490-4770
3989 N Watkins St, Memphis, TN for Sale
$1,295,000 USD
Apartments - FOR SALE
1/15
null | 9.27% Cap Rate

3989 N Watkins St
Memphis, TN 38127
Frayser


HIGHLIGHTS

  • Potential Laundromat Income
  • Established Occupancy with immediate cash flow
  • Renovated Units

OVERVIEW

-52-unit multifamily community - Approximately 35,000± square feet - Seven residential buildings - Mix of one-bedroom and two-bedroom apartment homes - Established occupancy with immediate cash flow - Renovated units achieving increased rental potential - Additional units available for future renovations - Projected 45% increase in Gross Income through occupancy stabilization and market-rate rent growth - Detached building suitable for an on-site laundromat or other ancillary income-producing use - Located within five miles of major employers Amazon and Nike - Multiple opportunities to increase revenue and asset value

FOR SALE DETAILS

PRICE

$1,295,000 USD

PRICE/SF

$84 USD /SF

# OF UNITS

52

PRICE/UNIT

$24,904

CAP RATE

9.27%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Eden Estates

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

RU-3

APN/PARCEL ID

06-9066-0-0003

ASK ABOUT THIS PROPERTY

Brook Loper901 PropertiesMore Info
901-490-4770

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Brook Loper901 PropertiesMore Info
901-490-4770

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