975 Marble AveMemphis, TN 38107

Property Details for 975 Marble Ave

Year built

1940

Property size (Sq ft)

1,566 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This charming, 1-story, 1940-built duplex in Memphis, Tennessee, presents a compelling value-add investment opportunity. Located at 975 Marble Ave, in Shelby County, this 1,566 square foot property boasts two units, each featuring two bedrooms and one bathroom. Currently operating at 100% occupancy, generating a net operating income (NOI) of $12,135, and a 10.56% capitalization rate, this property offers significant potential for increased profitability. Recent renovations include a newer roof and interior rehabilitation. The asking price is $114,900, translating to $73.37 per square foot and $57,450 per unit. The property's proximity to downtown Memphis makes it an attractive option for both investors and owner-occupants seeking a strong cash flow and potential for rental income growth. A drive-by is recommended; please do not disturb the residents. The property is classified as a Class C multifamily investment. Scheduled monthly income is $1,224.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1722

Longitude

-90.0244

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