712 5Th StMemphis, TN 38107

Property Details for 712 5Th St

Year built

1966

Lot size

0.18 AC

Property size (Sq ft)

3,202 SF

Zone code

MDR

Property type

Residential income properties

Property subtype

Garden apartment buildings

APN

001-081- - -00007

APU

108100007

Description

This completely renovated five-unit apartment building presents a compelling investment opportunity in Memphis' vibrant Uptown neighborhood. Located at 712 N 5th St, Memphis, TN 38107, this property boasts a fresh and modern aesthetic thanks to extensive recent renovations. Each of the five units features two bedrooms and one bathroom, providing comfortable living spaces for tenants. The upgrades are comprehensive, encompassing new LVT flooring on the lower levels and carpeting upstairs. Luxury vinyl plank (LVP) flooring has also been installed in other areas. The electrical and plumbing systems have been entirely replaced, ensuring efficiency and reliability. All HVAC units are brand new, providing climate control comfort. A new roof and windows have been installed, enhancing energy efficiency and curb appeal. Interior finishes are equally impressive, with new millwork, cabinetry, and drywall throughout. This turnkey property is ready for immediate occupancy and offers strong potential for rental income. The property's prime location in Uptown Memphis adds to its desirability, offering convenient access to local amenities and attractions. This is an exceptional opportunity for investors seeking a well-maintained, updated multifamily property in a thriving urban setting. The asking price is $499,500.

• CAP approach

  CAP return

  Valuation

  6%

  $572,083

  6.5%

  $528,077

  7%

  $490,357

• Comparable approach

  Method

  Valuation

  Relative Method

  $386,923

  Geo Method

  $386,923

• Alternative Use

  Use

  Valuation

  Residential

  $528,077

  Hospitality

  $483,716

  Educational

  $402,446

  Medical

  $416,286

  Retail

  $626,027

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1624

Longitude

-90.04

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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