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4010 Summer Ave 6 Unit Apartment Building $599,000 ($99,833/Unit) Memphis, TN 38122
Executive Summary
FIRE SALE !! Fully occupied 6-unit multifamily on Summer Ave! PRIME LOCATION! Renovated in 2020, each unit offers 3BR layouts—rare andin high demand, supporting strong tenant retention and consistent income. Major upgrades include new roof, updated plumbing, full electrical rewire, and all HVACsystems and water heaters replaced, delivering a true turnkey, low-maintenance asset. Currently generating approx. $75,000 annually, exceeding the 1% rule withimmediate cash flow from day one. Prime location with quick access to Interstate 40 and near Grahamwood Elementary School, increasing tenant demand. Strongrental corridor with excellent accessibility. Ideal for investors seeking stable returns, low overhead, and long-term appreciation. Opportunities like this areincreasingly difficult to find in today’s market. Don’t miss out on this rare investment. Contact me today for additional details or to schedule a private showing.
Property Facts
| Price | $599,000 | Building Class | C |
| Price Per Unit | $99,833 | Lot Size | 0.33 AC |
| Sale Type | Investment | Building Size | 5,400 SF |
| No. Units | 6 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1960 |
| Apartment Style | Low-Rise | Parking Ratio | 1.11/1,000 SF |
| Zoning | RMM - Residential Multifamily | ||
| Price | $599,000 |
| Price Per Unit | $99,833 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 5,400 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.11/1,000 SF |
| Zoning | RMM - Residential Multifamily |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Range
- Yard
- Dining Room
- Instant Hot Water
- Lawn
- Pantry
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 6 | - | 900 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 05-5069-0-0049 | Improvements Assessment | $192,560 |
| Land Assessment | $21,240 | Total Assessment | $213,800 |
Property Taxes
Parcel Number
05-5069-0-0049
Land Assessment
$21,240
Improvements Assessment
$192,560
Total Assessment
$213,800
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4010 Summer Ave
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