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1572 Hanauer St 10 Unit Apartment Building $605,000 ($60,500/Unit) Memphis, TN 38109
INVESTMENT HIGHLIGHTS
- Less than 10 Minutes to Downtown Memphis & Less than 20 Minutes to Memphis Airport/ FedEx World Hub
- Recent Renovations Include: Roofs (all less than 4 years old), Some units renovated to the Studs, LVP Floors, Paint.
- Gross Potential Income - $88,800/ Year
- Located in NEW XAI (Elon Musk world's largest CPU) Tax Incentive Zone that will produce Millions of Investments
EXECUTIVE SUMMARY
Great opportunity for a new or seasoned investor looking to get into multi-family investing. 8-One BR/1BA & 2-Two BR/1 BA units for a total of 10. Most units have been renovated, 4 from the studs up with mechanical, electric and plumbing. All roofs less than 4 years old. Tenants pay for all utilities, owner pays for water & outside house lights.
Great location, 10 minutes to Memphis Airport & FedEx World Hub, 7 Minutes to Downtown Memphis.
Great location, 10 minutes to Memphis Airport & FedEx World Hub, 7 Minutes to Downtown Memphis.
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PROPERTY FACTS
| Price | $605,000 | Building Class | C |
| Price Per Unit | $60,500 | Lot Size | 0.66 AC |
| Sale Type | Investment | Building Size | 5,664 SF |
| No. Units | 10 | Average Occupancy | 80% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1952/2022 |
| Apartment Style | Garden | Parking Ratio | 1.23/1,000 SF |
| Zoning | RU-3 | ||
| Price | $605,000 |
| Price Per Unit | $60,500 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.66 AC |
| Building Size | 5,664 SF |
| Average Occupancy | 80% |
| No. Stories | 1 |
| Year Built/Renovated | 1952/2022 |
| Parking Ratio | 1.23/1,000 SF |
| Zoning | RU-3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 2 | - | - |
PROPERTY TAXES
| Parcel Number | 03-5067-0-0016 | Improvements Assessment | $137,120 |
| Land Assessment | $16,360 | Total Assessment | $153,480 |
PROPERTY TAXES
Parcel Number
03-5067-0-0016
Land Assessment
$16,360
Improvements Assessment
$137,120
Total Assessment
$153,480
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1572 Hanauer St
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