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1080 Novarese St
Memphis, TN 38122
Berclair Cabanas · Multifamily Property For Sale
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39 Units
Property Facts
| No. Units | 39 | Lot Size | 1.05 AC |
| Property Type | Multifamily | Building Size | 21,280 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1962/2016 |
| Building Class | C | Parking Ratio | 1.35/1,000 SF |
| Zoning | CMU-1 | ||
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.05 AC |
| Building Size | 21,280 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1962/2016 |
| Parking Ratio | 1.35/1,000 SF |
| Zoning | CMU-1 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Carpet
- Smoke Free
Site Amenities
- Laundry Facilities
- Video Patrol
About 1080 NOVARESE ST , MEMPHIS, TN 38122
Presented is a 39 unit apartment complex located in the highly desired Berclair neighborhood. Over the last 3yrs of ownership occupancy has consisted been over 90%. Average rents has been increased from $375 to $505 (Market rents are closer to $650-$675). Most of the units have been renovated. All five building have new roofs and 7" titanium gutters.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 38 | $625.00 | 665 |
| 1+1 | 1 | $500.00 | 500 |
Property Taxes
| Parcel Number | 06-3003-0-0001 | Improvements Assessment | $346,800 |
| Land Assessment | $36,600 | Total Assessment | $383,400 |
Property Taxes
Parcel Number
06-3003-0-0001
Land Assessment
$36,600
Improvements Assessment
$346,800
Total Assessment
$383,400
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