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$ 1,250,000
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Active
229 N DUNLAP ST Memphis, TN 38105
4,176 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Condo
Sub Type Flat/Garden Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,176 sqft
Price per Sqft $299
Subdivision Holmes
MLS Listing ID 10230922
Year Built 1956
Annual Tax Amount $1,409
Property Sub-Type Flat/Garden Units
Property Description
Includes adjacent parcel # 051006 00011 (0.17 Ac) Positioned across from Le Bonheur Children's Hospital, these two adjacent lots feature a 9-unit, 4,176 sq ft apartment building on 23,958 sq ft of total land, plentiful for developing more units, designated parking, etc. All units are 1B/1Ba, with 8/9 renovated and currently rented at $500 and $650, allowing for immediate cash flow and opportunity to continue forcing appreciation while increasing rents. Renovated units have new breakers, cabinetry, central heat, electric utilities, LVP flooring, PEX plumbing, tile tub surround, toilets, vanities, water heaters, windows, and a firewall between every 3 units, with the roof being replaced 4-5 years ago. With over $1.3B of healthcare improvement projects through 2031 in the Medical District, this investment is ideal for capitalizing in a rapidly growing area!
Location
State TN
County Shelby
Area Harbor Town/Downtown
Interior
Heating Central, Electrical, Hot Water/Steam
Cooling 1 Window Unit per Unit
Flooring Wood Laminate Floors
Laundry None
Exterior
Parking Features Offsite/Street
Roof Type Shingle/Shake
Building
Story 1
Foundation Slab
Water Electrical
Others
Miscellaneous Sidewalks
Listed by Dylan R Andrews • Braden, Braden & Braden LLC