For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $86,000
Property Type Multi-Family
Sub Type Fourplex
Listing Status Sold
Purchase Type For Sale
Subdivision Pond
MLS Listing ID 10162170
Sold Date 04/16/24
Year Built 1936
Annual Tax Amount $724
Property Description
The asset at 655 E McLemore is a four-unit value-add property. The property is currently running at a 25% occupancy, with all of the units in need of full renovations. Each unit is two bedrooms with one full bathroom. The current tenant is paying $375 a month. The market rent for this unit type is approximately $700-$800 a month. Renovations are recommended to generate the market rent which is attainable due to the location of the property.
Location
State TN
County Shelby
Area South Memphis/61 Hwy
Interior
Heating Other (See Remarks)
Cooling Other (See Remarks)
Flooring Hardwood Throughout
Laundry Connections
Exterior
Garage Asphalt/Blacktop
Roof Type Pitched,Shingle/Shake
Building
Story 2
Foundation Full Basement
Water Other (See REMARKS), Public Water
Others
Acceptable Financing Cash
Listing Terms Cash
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Curtis L Braden • Braden, Braden & Braden LLC
GET MORE INFORMATION