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1201 College St

Memphis, TN 38106
  • $419,900
  • STATUS: Active
  • ON SITE: 43 Days
  • ID#: 10141643
Price Reduced
$419,900
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1965
County:

School Ratings & Info

Description

Wow - stuff like this just does NOT come up on the market often! 8 x 2-bed units, rehabbed and cashflowing with room to grow rents over the next 12-24 months! Check the photos out for rehab photos and shots of the building. Your Agent can also get you financials and an offering packet with more info so please reach out to them and learn more! Current monthly schedule rent is $3,970, 7/8 units occupied. Potential monthly rents are closer to $5500-6000, making this a KILLER opportunity!

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© 2023 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 The Heart To Home Group at RE/MAX Experts. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2023-03-24T00:03:20.963.
www.mattsellsmemphis.com/homes/136790133
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1201 College St Memphis, TN 38106

  • Price: $419,900
  • Status: Active
  • On Site: 43 Days
  • ID#: 10141643
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1965
Built
Neighborhood:
Mctighe
County:
Shelby
Area:
South Memphis/61 Hwy
Property Description
Wow - stuff like this just does NOT come up on the market often! 8 x 2-bed units, rehabbed and cashflowing with room to grow rents over the next 12-24 months! Check the photos out for rehab photos and shots of the building. Your Agent can also get you financials and an offering packet with more info so please reach out to them and learn more! Current monthly schedule rent is $3,970, 7/8 units occupied. Potential monthly rents are closer to $5500-6000, making this a KILLER opportunity!
Exterior Features

Buildings 1 Construction Brick/Veneer Foundation Slab Land Sq Ft 13500 Lot Size 90X150 Parking Facility AttachedGravelOffsite/Street Roof Composition

Interior Features

Cooling Systems Central Floors And Ceilings TileVinyl Floor Heating Systems CentralGas Hot Water GasPublic SewerPublic Water Improved Sq Ft 5000 Laundry Connections Leaseable Sq Ft 5000

Property Features

1 Bedroom Units 0 2 Bedroom Units 8 3 Bedroom Units 0 Actual Annual Rent 47640 Annual City Tax 2176 Annual County Tax 2767 Assumption No Assumption Average Annual Utilities 600 Contingency Type No Contingency Efficiency Studio Units 0 Existing Financing Conventional Fixed Gross Potential Annual Rent 60000 Legal Subdivision Name Mctighe Lot Number 1 Multifamily Type Apartment Building New Financing ConventionalExchange Operating Expenses InsuranceManagementRepairs/MaintenanceTaxes Other Units 0 Percent Occupancy 88 Possession At ClosingTenants Rights Sale Includes Building And LandSome Appliances Source Of Info Current RecordsLeasesOwnerP/L StatementRent Roll Tenant Pays All Utilities Type Of Leases MonthlyYear Type Of Units 2 Br - 1 Bath Zoning Ru-3

Listing information © 2023 Memphis Area Association of REALTORS®.
Listing provided courtesy of Memphis Metro Realty: 901-352-6200.



© 2023 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 The Heart To Home Group at RE/MAX Experts. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2023-03-24T00:03:20.963.
 
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The Heart To Home Group at RE/MAX Experts
1779 Kirby Pkwy #3
Memphis TN, 38138