2227 Airways Blvd - Apartments FOR SALE


Memphis, TN 38114- Southeast Memphis
$2,244,000 USD
901-305-1755
2227 Airways Blvd, Memphis, TN for Sale
$2,244,000 USD
Apartments - FOR SALE
1/26
null | 9.09% Cap Rate

2227 Airways Blvd
Memphis, TN 38114
Southeast Memphis


OVERVIEW

-STABLE WITH VALUE ADD OPPORTUNITY; MINIMAL CAPEX NEEDED TO START; 9 CAP+ "AS-IS" -NEAR MEMPHIS AIRPORT AND FEDEX SUPERHUB -MAIN THOROUGHFARE; WALKABLE TO RETAIL -INSTANT VALUE ADD - 2 UNITS WERE NOT INCLUDED IN INCOME IN FINANCIALS - $18,000 BUMP ON DAY 1 -WITH NON-CAPEX VALUE ADD IT BECOMES A 9.8%CAP -NEW ROOFS IN 2021; PERIODIC REVOATIONS OVER THE LAST 4 YEARS

FOR SALE DETAILS

PRICE

$2,244,000 USD

PRICE/SF

$64 USD /SF

# OF UNITS

42

PRICE/UNIT

$53,429

CAP RATE

9.09%

% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

44

LAND DETAILS

LAND ACRES

1.76 AC

LAND SF

76,666 SF

ZONING

RU-3

APN/PARCEL ID

06-0092-0-0015

ASK ABOUT THIS PROPERTY

Thomas HewgleyHewgley Commercial Real EstateMore Info
901-305-1755

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Thomas HewgleyHewgley Commercial Real EstateMore Info
901-305-1755

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.