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- LoopNet Team
1386 Court Ave
Memphis, TN 38104
Pure Apartments · Multifamily Property For Sale
·
52 Units
Investment Highlights
- Hot Midtown Location
- Minutes from Downtown Memphis
- Within 1 mile from Overton Park
Property Facts
| No. Units | 52 | Building Size | 10,413 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1963 |
| Building Class | C | Parking Ratio | 4.8/1,000 SF |
| Lot Size | 0.24 AC | ||
| Zoning | RMH | ||
| No. Units | 52 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 10,413 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 4.8/1,000 SF |
| Zoning | RMH |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Oven
- Tub/Shower
- Dining Room
- Vinyl Flooring
- Window Coverings
Site Amenities
- Vintage Building
About 1386 COURT AVE , MEMPHIS, TN 38104
Pinnacle Realty is pleased to present a tremendous Value-Add portfolio of 2 Apartment buildings totaling 52 Units in Midtown near the Medical center, one of the most desirable areas of Memphis. List Price is $1,850,000. It includes two buildings located on 1368 and 1386 Court Ave, Memphis, TN 38104. Units are one or two bedroom/one bath with about 90% leased with current rents of $325-$450/month; with renovations rents can be increased, per Unit, to $500-$600/month. It is situated in an amazing location. It is nestled in Midtown, surrounded by the medical district and Overton Park, so tenants can quickly be at the park, Levitt Shell to enjoy free music and festivities in the Summer, the Memphis Zoo, Overton Square, Overton Golf Course, Cooper Young, Brooks Museum, and all of the Midtown Entertainment, Park, Rhodes/CBU, Restaurants, & Shopping! There is huge Upside for the end Buyer. Don't miss out on this opportunity!
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 46 | $325.00 | - |
| 2+1 | 6 | $450.00 | - |
Property Taxes
| Parcel Number | 01-7016-0-0012 | Improvements Assessment | $184,200 |
| Land Assessment | $15,640 | Total Assessment | $199,840 |
Property Taxes
