NOT LISTED FOR SALE
110 Beds
-- Bath
36,250 Sq Ft
2.29 Acres

Last Sold November 28, 2022

Last sale price $1,250,000 $34 Per Sq Ft

122 Days on Market

Highlights

  • 2.29 Acre Lot
  • Laundry Facilities
  • Vinyl Flooring
  • Central Heating and Cooling System

About This Home

As of November 2022

This 60 unit building is a value add opportunity located less than 5 minutes north of booming Midtown Memphis. The property is a hundred percent vacant and needs major rehab. There are 50-2BR units and 10-1BR units. The total scheduled monthly income is 39960. Drive by only please. Make offer contingent on inspection.

Last Agent to Sell the Property

Jeffrey Moore

Crye-Leike Commercial License #250330 Listed on: 02/08/2022

Crye-Leike Commercial

Last Buyer's Agent

Jeffrey Moore

Crye-Leike Commercial License #250330 Listed on: 02/08/2022

Crye-Leike Commercial

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1957

Lot Details

  • 2.29 Acre Lot

Parking

  • Paved Parking

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Shingle Roof

Interior Spaces

  • 36,250 Sq Ft Home
  • 2-Story Property
  • Vinyl Flooring

Utilities

  • Central Heating and Cooling System
  • Electric Water Heater

Listing and Financial Details

  • Tenant pays for some utilities
  • Assessor Parcel Number 042037 00191

Community Details

Overview

  • 5 Buildings
  • 60 Units
  • Sam Dattels Springdale Apartments Subdivision

Amenities

  • Laundry Facilities

Building Details

  • Insurance Expense $37,250
  • Utility Expense $10,080
  • Operating Expense $117,430

Property Details

Home Type

Apartment

Year Built

Built in 1957

Lot Details

0

Listing Details

  • Class: Multi-Family
  • Type: Apartment Building
  • MAAR Subdivision Name: SPRINGDALE APARTMENTS
  • Freestanding: Yes
  • List Price Per Sq Ft: 58
  • Number Of Stories: 2
  • Estimated Sq Ft: 36250
  • Year Built: 1957
  • Construction: Brick/Veneer
  • List Price Per Unit: 35000
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Floors/Ceilings: Vinyl Floor

Exterior Features

  • Foundation: Slab
  • Roof: Shingle/Shake

Garage/Parking

  • Parking Facility: Asphalt/Blacktop

Utilities

  • Hot Water: Electrical
  • Cooling Systems: Central
  • Heating Systems: Central
  • Laundry: Common Laundry

Association/Amenities

  • Amenities: Leasing Office

Lot Info

  • Lot Number: 1
  • Acreage: 2.29
  • Lot Size: 270.47+164/300 X 350/300
  • Improved Sq Ft: 36250
  • Land Sq Ft: 99839

Rental Info

  • Actual Annual Rent: 431568
  • Leaseable Sq Ft: 36250
  • Tenant Pays: Some Utilities
  • Type Of Leases: Year

Tax Info

  • Assessor Parcel Number: 042037 00191

Multi Family

  • Total Number Of Units: 60
  • Number2 Bedroom Units: 50
  • Type of Unit: 1 BR - 1 Bath, 2 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

Date Event Price List to Sale Price per Sq Ft
11/28/2022 11/28/22 Sold $1,250,000 -40.5% $34 / Sq Ft
06/10/2022 06/10/22 Pending -- -- --
02/08/2022 02/08/22 For Sale $2,100,000 -- $58 / Sq Ft
Source: Memphis Area Association of REALTORS®

Tax History

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 $9,318 $425,800 $37,760 $388,040
2024 $9,318 $274,880 $35,440 $239,440
2023 $16,745 $274,880 $35,440 $239,440
2022 $16,745 $274,880 $35,440 $239,440
2021 $16,941 $274,880 $35,440 $239,440
2020 $18,947 $261,480 $35,440 $226,040
2019 $8,357 $261,480 $35,440 $226,040
2018 $8,357 $261,480 $35,440 $226,040
2017 $8,554 $261,480 $35,440 $226,040
2016 $13,313 $304,640 $0 $0
2014 $7,405 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Memphis Area Association of REALTORS®

MLS Number: 10126203

Memphis Area Association of REALTORS®
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