1030 Hamilton StMemphis, TN 38114

Property Details for 1030 Hamilton St

Year built

1951

Lot size

0.48 AC

Property size (Sq ft)

5,003 SF

Zone code

R-6

Property type

Apartment buildings

APN

061-022- - -00022

APU

6102200022

Description

This exceptional 10-unit apartment building, located at 1030 Hamilton Street in Memphis, Tennessee, presents a compelling investment opportunity. The property boasts a total of 5,784 square feet situated on a 0.48-acre lot. Constructed in 1951, the single-story building offers a blend of renovated and unrenovated units. Six of the ten units have undergone recent renovations, featuring new flooring, updated appliances, and fresh paint. These improvements contribute to a strong rental income stream, with current leases averaging $750 to $900 per month. The property's roof was recently replaced approximately 1.5 years ago, minimizing immediate maintenance concerns. The asking price for this multifamily property is $500,000, translating to a price per unit of $50,000. This presents a strong value proposition in the Memphis real estate market. The property's location in Shelby County, zip code 38114, offers convenient access to local amenities and transportation. This is an ideal investment for those seeking a stable, income-generating asset with potential for further value appreciation. The combination of renovated units, recent roof replacement, and strong rental rates makes this a truly attractive opportunity. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $893,858

  6.5%

  $825,099

  7%

  $766,164

• Comparable approach

  Method

  Valuation

  Relative Method

  $604,552

  Geo Method

  $604,552

• Alternative Use

  Use

  Valuation

  Residential

  $825,099

  Hospitality

  $755,787

  Educational

  $628,806

  Medical

  $650,431

  Retail

  $978,142

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1073

Longitude

-89.9772

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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