2780 Raleigh Lagrange Rd Memphis, TN 38128
- Apartment buildings
- 36,820 SF
- 1.60 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 2780 Raleigh Lagrange Rd
- Year built
- 1974
- Lot size
- 1.60 lot acres
- Property size
- 36,820 SF
- Property type
- Apartment buildings
Description
This exceptional 32-unit apartment complex in Memphis, Tennessee, presents a compelling investment opportunity. Located at 2780 Raleigh Lagrange Rd, 38128, this property boasts 36,820 square feet across five, two-story buildings situated on a 1.6-acre lot. Built in 1974, the property has undergone significant renovations within the last five years, enhancing its value and appeal. Improvements include a new roof, approximately 60% new patio fencing, updated appliances and Formica countertops in most units, and all exterior HVAC units are less than seven years old. Twenty-five units have been fully renovated and are in excellent condition, while seven units, though rentable, await renovation. Exterior enhancements encompass new lighting, signage, fencing, landscaping, gutters, and exterior paint. The spacious townhome-style units offer a significant competitive advantage in the rental market. The property's recent focus on improving tenant quality and occupancy has impacted current income and expenses, but the existing lender anticipates strong future cash flow and is prepared to offer financing to a qualified buyer. This property offers a unique blend of immediate income potential and long-term growth prospects.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.9157
- Latitude
- 35.2013
