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    3974 New Horn Lake Rd Memphis, TN 38109

    Sponsored
    For Sale
    $650,000

    85-unit farm, gated community, luxury rentals

    Property size:
    105,451 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents Farm Hills Estate, a gated 85-unit multifamily property situated on 9.3 acres in Memphis, Tennessee. The property, located at 3974 New Horn Lake Rd, zip code 38109, consists of 17 buildings, each a single-story structure, totaling 105,451 square feet. The community offers a mix of 18 two-bedroom and 67 three-bedroom townhomes, designed as duplex-like structures, providing residents with private backyards. Ample parking is available with 89 spaces. Conveniently located just three miles from Graceland Mansion and within walking distance of Levi Elementary School, Farm Hills Estate provides residents with a blend of suburban tranquility and urban accessibility. The property's attractive design and amenities cater to families seeking comfortable and luxurious rental living. The asking price for this prime multifamily investment is $650,000. The property's APN is 07507400037. This offering presents a unique chance to acquire a well-maintained, established rental community in a desirable Memphis location. The property's strong tenant base and attractive features make it an ideal investment for those seeking a stable and profitable return.

    Property Features for 3974 New Horn Lake Rd

    General Information

    Property type
    Multifamily properties
    Square Feet
    105,451 SF
    Lot Size
    405,108 SF

    Building Details

    Buildings
    17
    Stories
    1
    Units
    85

    HighLights

    • 85‑unit multifamily property in Memphis, TN.
    • Located at 3974 New Horn Lake Rd, zip code 38109, on 9.3 acres.
    • 17 single‑story buildings totaling 105,451 square feet.
    • Unit mix: 18 two‑bedroom and 67 three‑bedroom townhomes; duplex‑style with private backyards.
    • 89 parking spaces.
    • Three miles from Graceland, walking distance to Levi Elementary School.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Auto Repair Shop Gym & Fitness Pharmacy Wholesale Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0693774
    Latitude
    35.0480014

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    FAQs

    What type of property is this?
    Multifamily property - 85-unit farm, gated community, luxury rentals
    Where is this multifamily property located?
    The property is located at 3974 New Horn Lake Rd Memphis, TN.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: 85-unit multifamily property in Memphis, TN.; Located at 3974 New Horn Lake Rd, zip code 38109, on 9.3 acres.; 17 single-story buildings totaling 105,451 square feet.
    Request Owner's contact information
    3974 New Horn Lake Rd Memphis, TN 38109
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    Memphis, TN 38109
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3974 New Horn Lake Rd Memphis, TN 38109
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