650 Minor Rd Memphis, TN 38111
- Apartment buildings
- 16,704 SF
- 0.74 lot acres
Current Use by Public Records
- Tiger Flats Apartments / Apartment Building
Property Details for 650 Minor Rd
- Year built
- 1966
- Lot size
- 0.74 lot acres
- Property size
- 16,704 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a 22-unit apartment building located at 650 Minor Rd, Memphis, TN 38111. The property, known as Tiger Flats, comprises two well-maintained, two-story buildings totaling 16,704 square feet of net rentable space, situated on a 0.74-acre lot. Built in 1966 and extensively renovated in 2017, the Class C property boasts a strong rental history with low vacancy rates. The complex is zoned RU-3 and offers a desirable mix of residential units in a convenient location near the University of Memphis, providing easy access to dining, retail, and other amenities. The property's strong tenant base and central location contribute to its significant income potential. This multifamily investment offers a compelling opportunity for investors seeking a stable and profitable addition to their portfolio. The property's 22 units provide a substantial cash flow, making it an attractive option for those looking for a proven income stream. Its strategic location near the University of Memphis further enhances its appeal to potential tenants and ensures consistent occupancy. The 2017 renovation ensures the property is in excellent condition, minimizing maintenance costs and maximizing long-term value. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a thriving Memphis neighborhood. The asking price is $1,700,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.9436
- Latitude
- 35.1138
