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1283 E Raines Rd
Memphis, TN 38116
Multifamily Property For Sale
·
16 Units
Investment Highlights
- Central Heating & Air
- Near Airport, FedEx, UPS and Graceland
- Refrigerators and Stoves
Executive Summary
1283 E. Raines is a 16-unit opportunity featuring 12 two-bedroom units and 4 one-bedroom units.
The property offers central heating and air along with stoves and refrigerators in each unit.
Conveniently situated just minutes from FedEx, UPS, the Memphis International Airport, and Graceland, the location benefits from strong employment drivers and steady rental demand. The scheduled monthly rents are 12895/mo. Please do not disturb residents, drive by only.
The property offers central heating and air along with stoves and refrigerators in each unit.
Conveniently situated just minutes from FedEx, UPS, the Memphis International Airport, and Graceland, the location benefits from strong employment drivers and steady rental demand. The scheduled monthly rents are 12895/mo. Please do not disturb residents, drive by only.
Property Facts
| Price Per Unit | $77,250 | Lot Size | 0.50 AC |
| Sale Type | Investment | Building Size | 14,216 SF |
| Cap Rate | 8.12% | Average Occupancy | 95% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 1.2/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | RU-3 | ||
| Price Per Unit | $77,250 |
| Sale Type | Investment |
| Cap Rate | 8.12% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 14,216 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.2/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RU-3 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Tile Floors
- Double Vanities
- Granite Countertops
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $775.00 | 640 |
| 2+1 | 12 | $895.00 | 946 |
Property Taxes
| Parcel Number | 07-9002-0-0006 | Improvements Assessment | $354,360 |
| Land Assessment | $9,760 | Total Assessment | $364,120 |
Property Taxes
Parcel Number
07-9002-0-0006
Land Assessment
$9,760
Improvements Assessment
$354,360
Total Assessment
$364,120
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