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957 Wellington St
Memphis, TN 38126
Wellington Apartments · Multifamily Property For Sale
·
6 Units
Investment Highlights
- New Roof, Electrical, Windows & Flooring
- Spacious 2-bedroom Units
- Minutes from Downtown Memphis
Executive Summary
This fully renovated 6-unit multifamily property is located just minutes south of Downtown Memphis.
Each unit is a spacious 2-bedroom, appealing to a strong and stable tenant base.
Recent upgrades include a new roof, electrical, plumbing, windows, and flooring.
The property generates $5,400 in scheduled monthly rental income.
A turnkey asset offering immediate cash flow with upside in a growing submarket.
Each unit is a spacious 2-bedroom, appealing to a strong and stable tenant base.
Recent upgrades include a new roof, electrical, plumbing, windows, and flooring.
The property generates $5,400 in scheduled monthly rental income.
A turnkey asset offering immediate cash flow with upside in a growing submarket.
Property Facts
| Price Per Unit | $98,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 7.24% | Building Size | 5,000 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1965 |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Zoning | R-MM | ||
| Price Per Unit | $98,167 |
| Sale Type | Investment |
| Cap Rate | 7.24% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 5,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Opportunity Zone |
Yes |
| Zoning | R-MM |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $900.00 | 833 |
Property Taxes
| Parcel Number | 01-3043-0-0014 | Improvements Assessment | $140,400 |
| Land Assessment | $6,440 | Total Assessment | $146,840 |
Property Taxes
Parcel Number
01-3043-0-0014
Land Assessment
$6,440
Improvements Assessment
$140,400
Total Assessment
$146,840
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