972 Peabody AveMemphis, TN 38104

Property Details for 972 Peabody Ave

Year built

1963

Lot size

0.28 AC

Property size (Sq ft)

6,000 SF

Zone code

RU-3

Property type

Residential income properties

Property subtype

Garden apartment buildings

APN

018-024- - -00002

APU

1802400002

Description

This exceptional investment opportunity presents two adjacent, renovated apartment complexes in Memphis, Tennessee, totaling 14 units. Located at 972 Peabody Ave and 336 S Dudley St, in the 38104 zip code, this 0.568-acre property offers a compelling return. The buildings, constructed in 1963, are two-story structures, each contributing to the overall portfolio. The complex comprises 13 two-bedroom, one-bathroom units and a single one-bedroom, one-bathroom unit. The one-bedroom unit was thoughtfully modified to include a laundry room. This prime location is situated near the thriving Medical District, a significant employment hub, ensuring consistent tenant demand. The asking price for this multifamily property is $1,330,000, representing a price per unit of $95,000. This package deal offers a rare chance to acquire a well-maintained, income-generating asset in a high-demand area. The property's proximity to the Medical District makes it an attractive investment for both short-term and long-term growth. The existing tenant base provides immediate cash flow, while the potential for future appreciation adds to the overall value proposition. This is a turnkey investment ready for immediate returns.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1333

Longitude

-90.0292

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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