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2973 Getwell Rd
Memphis, TN 38118
Medical Park Apartments · Multifamily Property For Sale
·
177 Units
PROPERTY FACTS
| No. Units | 177 | Building Size | 191,156 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1967 |
| Building Class | C | Parking Ratio | 1.83/1,000 SF |
| Lot Size | 7.34 AC | ||
| Zoning | RU-2 - Residential | ||
| No. Units | 177 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 7.34 AC |
| Building Size | 191,156 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 1.83/1,000 SF |
| Zoning | RU-2 - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
- Freezer
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Picnic Area
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
ABOUT 2973 GETWELL RD , MEMPHIS, TN 38118
Medical Park Apartments is an outstanding value-add opportunity that features a state-of-the-art, real time monitoring system like you have never seen before! Once the property is stabilized and leased up to 90% occupancy the technology & management systems mentioned above will make this property stand out for re-sale opportunities or long term cash flow. Currently 50 down units with 16 fire related and eight units damaged by act of nature, a tree fell on building. Property is under the Payment In-Lieu-of Tax (PILOT) Program effective January 1, 2016 to December 31, 2025. A PILOT is a temporary, partial abatement of future real and/or personal property taxes.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 22 | $437.00 | 671 |
| 2+2 | 147 | $502.00 | 807 |
| 3+2 | 8 | $536.00 | 1,000 |
PROPERTY TAXES
| Parcel Number | 07-3017-0-0198 | Improvements Assessment | $5,461,400 |
| Land Assessment | $527,400 | Total Assessment | $5,988,800 |
PROPERTY TAXES
