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$ 535,000
Est. payment /mo
Pending
374 N DUNLAP ST Memphis, TN 38105
5,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Condo
Sub Type Apartment Building
Listing Status Pending
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $107
Subdivision Lane
MLS Listing ID 10184186
Year Built 1959
Annual Tax Amount $1,792
Property Sub-Type Apartment Building
Property Description
Located in a strong rental neighborhood, this value-add investment is strategically positioned for a new buyer. The opportunity provides a new investor with the ability to achieve significant upside from a well-located asset. The property is located just 1 block from the Medical District and 1 mile from the Crosstown Concourse. Nicely manicured with an open, U shaped layout, the property feels large and welcoming. All units feature 1 bedroom and 1 bathroom. The current owner has fully renovated 6 of the 10 units along with other capital improvements, including window, plumbing, and electrical updates, as well as a new roof in 2022. A few upgrades and some well-placed capital improvements by a new investor can significantly drive both rents and long-term value.
Location
State TN
County Shelby
Area Harbor Town/Downtown
Interior
Heating Electrical, Other (See Remarks)
Cooling Electrial, Other (See Remarks)
Flooring Tile, Wood Laminate Floors
Equipment Range/Oven (Freestanding), Refrigerator, Smoke Detector(s)
Laundry None
Exterior
Parking Features Gravel, Offsite/Street
Roof Type Composition
Building
Story 1
Foundation Slab
Water Electrical
Listed by Jessica Sewell • Prime Real Estate Group