4390 Kamali CtMemphis, TN 38128

Property Details for 4390 Kamali Ct

Year built

1960

Construction

FRAME

Lot size

0.99 AC

Property size (Sq ft)

10,912 SF

Zone code

CMU-3

Property type

Garden apartment buildings

APN

088-007- - -00020-C

APU

08800700020C

Description

This exceptional value-add investment opportunity presents a 21-unit apartment building located at 4390 Kamali Court, Memphis, Tennessee, 38128. The property, built in 1960, consists of three two-story buildings, offering a total of 21 townhome-style units. Each unit features two bedrooms and one and a half bathrooms, with a unique layout including one full bath upstairs and a half bath downstairs. Individual unit meters for utilities, central heating and air conditioning, and washer/dryer hookups are standard. Importantly, each unit also includes an emergency shut-off valve. Currently, the property boasts 14% occupancy, with three tenants holding month-to-month leases. A significant portion of the property requires complete renovation

• CAP approach

  CAP return

  Valuation

  6%

  $1,949,585

  6.5%

  $1,799,617

  7%

  $1,671,073

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,318,584

  Geo Method

  $1,318,584

• Alternative Use

  Use

  Valuation

  Residential

  $1,799,617

  Hospitality

  $1,648,440

  Educational

  $1,371,482

  Medical

  $1,418,650

  Retail

  $2,133,417

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.2028

Longitude

-89.9171

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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