3637 Park Ave - Apartments FOR SALE


Memphis, TN 38111- Audubon Park
$6,619,185 USD
901-483-9974
3637 Park Ave, Memphis, TN for Sale
$6,619,185 USD
Apartments - FOR SALE
1/20
null | 7% Cap Rate

3637 Park Ave
Memphis, TN 38111
Audubon Park


HIGHLIGHTS

  • Newly Renovated in 2024.
  • Full Remodeled Kitchens and Bathrooms.
  • 10 Year PILOT was granted in 2023.
  • 100% Occupancy.

OVERVIEW

An office to multifamily conversion that was complete one year ago. It currently has a 10 year PILOT that can be transferred to a buyer. It also has room in the rear for an additional multifamily building. Two units could be added to the existing building. Comes with a metal building behind the gate currently leases to a user. 3% commission will be paid at closing to the purchaser representatives.

FOR SALE DETAILS

PRICE

$6,619,185 USD

PRICE/SF

$236 USD /SF

# OF UNITS

38

PRICE/UNIT

$174,189

CAP RATE

7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

University Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.73 AC

LAND SF

75,359 SF

ZONING

-

APN/PARCEL ID

05-8048-0-0005

ASK ABOUT THIS PROPERTY

Brown GillGill Properties, Inc.More Info
901-483-9974

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

Brown GillGill Properties, Inc.More Info
901-483-9974

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