NOT LISTED FOR SALE
135 Beds
-- Bath
35,564 Sq Ft
2.66 Acres Lot

Sale Details

Date Sold: December 29, 2023

Last sale price $1,700,000 $48 Per Sq Ft

105 Days on Market

About This Home

As of December 2023

Rare opportunity for a value-add complex, just 10 minutes to FedEx & Memphis Airport, 10 Minutes to Downtown, Memphis 5 Minutes to U of M, and centrally located. Nearby schools, access to Expressway 78 units. Scheduled Gross Rental Income is $833,000. Owner willing to seller finance. 6 Units currently occupied w/ average rent of $375/mo.

Last Agent to Sell the Property

John Cornes

Braden, Braden & Braden LLC License #303183 Listed on: 09/14/2023

Co-Listed By

Curtis Braden, CCIM

Braden, Braden & Braden LLC License #284224

Last Buyer's Agent

John Cornes

Braden, Braden & Braden LLC License #303183 Listed on: 09/14/2023

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1963

Lot Details

  • 2.66 Acre Lot

Parking

  • Paved Parking

Home Design

  • Brick Exterior Construction
  • Pitched Roof
  • Shingle Roof

Interior Spaces

  • 35,564 Sq Ft Home
  • 2-Story Property

Community Details

  • 2 Buildings
  • 78 Units

Listing and Financial Details

  • Tenant pays for some utilities, gas, electric
  • Assessor Parcel Number 047073 00028

Property Details

Home Type

Apartment

Year Built

Built in 1963

Lot Details

2.66 Acres

Listing Details

  • Class: Multi-Family
  • Type: Apartment Complex
  • MAAR Subdivision Name: Orange Mound
  • Freestanding: Yes
  • Number Of Stories: 2
  • Estimated Sq Ft: 35564
  • Year Built: 1963
  • Construction: Brick/Veneer
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Roof: Shingle/Shake, Pitched

Garage/Parking

  • Parking Facility: Asphalt/Blacktop

Lot Info

  • Acreage: 2.66
  • Lot Size: 2.66
  • Improved Sq Ft: 54124
  • Land Sq Ft: 115652

Rental Info

  • Tenant Pays: Some Utilities, Gas, Electric

Tax Info

  • Assessor Parcel Number: 047073 00028

Multi Family

  • Total Number Of Units: 78
  • Number2 Bedroom Units: 55
  • Number3 Bedroom Units: 1
  • Type of Unit: 1 BR - 1 Bath, 2 BR - 1 Bath, 3 BR - 1 Bath
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
12/29/2023 12/29/23 Sold $1,700,000 -12.8% $48 / Sq Ft
09/14/2023 09/14/23 For Sale $1,950,000 -- $55 / Sq Ft
Source: Memphis Area Association of REALTORS®

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $13,257 $492,840 $64,440 $428,400
2024 $16,570 $488,800 $61,560 $427,240
2023 $29,776 $488,800 $61,560 $427,240
2022 $29,776 $488,800 $61,560 $427,240
2021 $35,389 $488,800 $61,560 $427,240
2020 $18,819 $259,720 $61,560 $198,160
2019 $8,301 $259,720 $61,560 $198,160
2018 $8,301 $259,720 $61,560 $198,160
2017 $8,497 $259,720 $61,560 $198,160
2016 $5,323 $121,800 $0 $0
2014 $6,232 $142,600 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Memphis Area Association of REALTORS®

MLS Number: 10156756

Memphis Area Association of REALTORS®
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