1297 Lauderdale StMemphis, TN 38106

Property Details for 1297 Lauderdale St

Year built

1959

Lot size

1.20 AC

Property size (Sq ft)

4,128 SF

Zone code

RU-3

Property type

Residential income properties

Property subtype

Garden apartment buildings

APN

025-059- - -00010

APU

2505900010

Description

This exceptional multifamily investment opportunity presents a prime chance to acquire the Willie Mitchell Apartments, a 34-unit apartment building located at 1297 S Lauderdale St, Memphis, Tennessee, 38106. The property is offered at an asking price of $1,950,000. All 34 units are two-bedroom apartments, each having undergone a complete renovation. This turnkey investment offers immediate cash flow potential with a strong tenant base. The property's location in Shelby County provides easy access to major transportation routes and local amenities, ensuring high occupancy rates and consistent rental income. The building's solid construction and recent renovations minimize future maintenance costs, maximizing the return on investment. This is an ideal opportunity for investors seeking a stable, high-yielding asset in a thriving Memphis market. A unique lease-with-option-to-purchase arrangement is available, requiring an initial investment of only $250,000. This attractive financing option makes this property accessible to a wider range of investors. Detailed financial information and property specifics are available upon request. Don't miss this chance to acquire a well-maintained, high-performing multifamily property in a desirable Memphis location.

• CAP approach

  CAP return

  Valuation

  6%

  $737,526

  6.5%

  $680,794

  7%

  $632,166

• Comparable approach

  Method

  Valuation

  Relative Method

  $498,819

  Geo Method

  $498,819

• Alternative Use

  Use

  Valuation

  Residential

  $680,794

  Hospitality

  $623,603

  Educational

  $518,831

  Medical

  $536,674

  Retail

  $807,070

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1114

Longitude

-90.0442

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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