Log In/Sign Up
Your email has been sent.
1515 Madison Ave 5 Unit Apartment Building $425,000 ($85,000/Unit) Memphis, TN 38104
EXECUTIVE SUMMARY
Prime Midtown Investment Opportunity!
Located on vibrant Madison Avenue just steps from Overton Square, this renovated five-unit multifamily property offers excellent rental income potential. The main house features four spacious units, plus a separate apartment above the garage. Major updates include 2017 renovations with new HVAC and a new roof in 2019. Several units have been modernized with updated flooring, countertops, and appliances. Added conveniences include an onsite laundry room and strong tenant appeal from the walkable location.
Located on vibrant Madison Avenue just steps from Overton Square, this renovated five-unit multifamily property offers excellent rental income potential. The main house features four spacious units, plus a separate apartment above the garage. Major updates include 2017 renovations with new HVAC and a new roof in 2019. Several units have been modernized with updated flooring, countertops, and appliances. Added conveniences include an onsite laundry room and strong tenant appeal from the walkable location.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $425,000 | Building Class | C |
| Price Per Unit | $85,000 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 5,780 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1902 |
| Property Subtype | Apartment | Parking Ratio | 0.87/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CMU-3 | ||
| Price | $425,000 |
| Price Per Unit | $85,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,780 SF |
| No. Stories | 2 |
| Year Built | 1902 |
| Parking Ratio | 0.87/1,000 SF |
| Zoning | CMU-3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | - | 450 |
| 1+1 | 2 | - | 550 - 700 |
| 2+1 | 1 | - | 800 |
1 1
Walk Score®
Very Walkable (87)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 01-7030-0-0004 | Improvements Assessment | $73,560 |
| Land Assessment | $30,320 | Total Assessment | $103,880 |
PROPERTY TAXES
Parcel Number
01-7030-0-0004
Land Assessment
$30,320
Improvements Assessment
$73,560
Total Assessment
$103,880
1 of 23
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
1515 Madison Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.