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

Sale Details

Date 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
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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

2.29 Acres

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

Ownership 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 Name Owned For Owner Type

Purchase Details

Closed on
Apr 17, 2026
Sold by
Bought by

Purchase Details

Closed on
Mar 25, 2024
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,200,000
Interest Rate
7.17%
Mortgage Type
New Conventional

Purchase Details

Listed on
Feb 8, 2022
Closed on
Nov 21, 2022
Sold by
Bought by
Seller's Agent
Jeffrey Moore
Crye-Leike Commercial
Buyer's Agent
Jeffrey Moore
Crye-Leike Commercial
List Price
$2,100,000
Sold Price
$1,250,000
Premium/Discount to List
-$850,000
-40.48%
Views
3

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,000,000
Interest Rate
6.95%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 3, 2014
Sold by
Bought by

Purchase Details

Closed on
Aug 16, 2006
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase 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 Buyer Sale Price Title Company
-- None Listed On Document
-- None Listed On Document
$1,250,000 None Listed On Document
$150,000 None Available
$700,000 None Available
Source: Public Records

Mortgage 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 Status Borrower Loan Amount
Previous Owner $3,200,000
Previous Owner $250,000
Previous Owner $2,000,000
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
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

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 $11,454 $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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