For Sale
$1,700,000

650 Minor RdMemphis, TN 38111

22-Unit Apartment Complex, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 22-unit apartment building located at 650 Minor Rd, Memphis, TN 38111. The property, known as Tiger Flats, comprises two well-maintained, two-story buildings totaling 16,704 square feet of net rentable space, situated on a 0.74-acre lot. Built in 1966 and extensively renovated in 2017, the Class C property boasts a strong rental history with low vacancy rates. The complex is zoned RU-3 and offers a desirable mix of residential units in a convenient location near the University of Memphis, providing easy access to dining, retail, and other amenities. The property's strong tenant base and central location contribute to its significant income potential. This multifamily investment offers a compelling opportunity for investors seeking a stable and profitable addition to their portfolio. The property's 22 units provide a substantial cash flow, making it an attractive option for those looking for a proven income stream. Its strategic location near the University of Memphis further enhances its appeal to potential tenants and ensures consistent occupancy. The 2017 renovation ensures the property is in excellent condition, minimizing maintenance costs and maximizing long-term value. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a thriving Memphis neighborhood. The asking price is $1,700,000.

Highlights

  • 22-unit apartment building with proven income potential, currently occupied.
  • Located at 650 Minor Rd, Memphis, TN 38111, near the University of Memphis.
  • 16,704 square feet of net rentable space on a 0.74-acre lot.
  • Class C property, built in 1966, extensively renovated in 2017, minimizing maintenance costs.
  • Asking price: $1,700,000.

Property Details for 650 Minor Rd

Property type
Apartment buildings
Square Feet
16,704 SF
Class
C
Year Built/Renovated
1966/2017
Buildings
2
Stories
2
Lot Size (sq. ft)
32,234 SF
Units
22

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.1137535
Longitude
-89.9436497
650 Minor Rd, Memphis, Tennessee

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650 Minor Rd
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