For Sale
$429,500

1535 Vance AveMemphis, TN 38104

3-Unit Building, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
114
This attractive 3-unit multifamily property, located at 1535 Vance Ave in Memphis, Tennessee, presents a compelling investment opportunity. Built in 1926, this 2-story, clinker-style brick veneer building sits on a 0.258-acre lot (APN 0160260010) and boasts approximately 4,556 square feet of net rentable space. The property is currently vacant, with an occupancy date of October 31, 2024. The layout includes a large first-floor unit featuring a living room with fireplace, dining room, breakfast room, kitchen, pantry, four bedrooms, and one bathroom. The second floor comprises two separate one-bedroom, one-bathroom units, each with its own kitchen and den/dining area, and a shared rear entrance, plus a separate dedicated front entrance for each. A large floored attic provides ample storage space. The property is zoned R6-H and benefits from its proximity to major institutions: 2.6 miles to Rhodes College, 5.2 miles to the University of Memphis, and 3.8 miles to St. Jude Children's Hospital. Annual property taxes total $8,273.90 ($4,014.70 City of Memphis, $4,259.20 Shelby County). This fee-simple ownership offers significant potential for owner-users or investors seeking a strong foothold in the vibrant Midtown Memphis market. The asking price is $429,500.

Highlights

  • Triplex: 1 down, 2 up.
  • Lot 072, Kimbroughs Union Ave S/D, Parcel ID 0160260010, 0.258 acres.
  • Built in 1926, Clinker brick veneer.
  • Commercially Zoned.
  • First Floor: Living room with fireplace, dining room, breakfast room, kitchen, pantry, 4 bedrooms, 1 bath.
  • Two Second-Floor Units: Each with 1 bedroom, 1 bath, kitchen, den, dining area.

Property Details for 1535 Vance Ave

Property type
Residential income homes, Dormitories
Square Feet
4,500 SF
Class
B
Year Built
1926
Buildings
1
Stories
2
Lot Size (sq. ft)
11,238 SF
Units
3

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.13316003605
Longitude
-90.010037534326
1535 Vance Ave, Memphis, Tennessee

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1535 Vance Ave
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