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At the Square 21 Diana St 16 Unit Apartment Building $1,520,000 ($95,000/Unit) 7.79% Cap Rate Memphis, TN 38104
INVESTMENT HIGHLIGHTS
- Value Add Potential - Increase Rents By $400/month
- Best Location In Memphis
EXECUTIVE SUMMARY
This property is cash flowing and 90% occupied.
Value add potential to improve all the units and increase rents to +$1000 a month.
7/16 units have washer/dryers in the unit.
Priced to sell. Assumable Freddie Mac Loan in place at 4.5% interest.
Value add potential to improve all the units and increase rents to +$1000 a month.
7/16 units have washer/dryers in the unit.
Priced to sell. Assumable Freddie Mac Loan in place at 4.5% interest.
PROPERTY FACTS
| Price | $1,520,000 | Building Class | C |
| Price Per Unit | $95,000 | Lot Size | 0.57 AC |
| Sale Type | Investment | Building Size | 16,960 SF |
| Cap Rate | 7.79% | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 0.71/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RMM | ||
| Price | $1,520,000 |
| Price Per Unit | $95,000 |
| Sale Type | Investment |
| Cap Rate | 7.79% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.57 AC |
| Building Size | 16,960 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 0.71/1,000 SF |
| Zoning | RMM |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Washer/Dryer
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Fenced Lot
- Tenant Controlled HVAC
- Gated
- Gas Range
- Walking/Biking Trails
- Online Services
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 16 | $1,198 | - |
1 1
Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 01-7064-0-0006 | Improvements Assessment | $280,520 |
| Land Assessment | $90,360 | Total Assessment | $370,880 |
PROPERTY TAXES
Parcel Number
01-7064-0-0006
Land Assessment
$90,360
Improvements Assessment
$280,520
Total Assessment
$370,880
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At the Square | 21 Diana St
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