1030 Hamilton St Memphis, TN 38114-3131
- Apartment buildings
- 5,003 SF
- 0.48 lot acres
Dec 13, 2021
Current Use by Public Records
- Apartment buildings
Property Details for 1030 Hamilton St
- Year built
- 1951
- Lot size
- 0.48 lot acres
- Property size
- 5,003 SF
- Zone code
- R-6
- Property type
- Apartment buildings
- APN
- 061-022- - -00022
- APU
- 6102200022
Description
This exceptional 10-unit apartment building, located at 1030 Hamilton Street in Memphis, Tennessee, presents a compelling investment opportunity. The property boasts a total of 5,784 square feet situated on a 0.48-acre lot. Constructed in 1951, the single-story building offers a blend of renovated and unrenovated units. Six of the ten units have undergone recent renovations, featuring new flooring, updated appliances, and fresh paint. These improvements contribute to a strong rental income stream, with current leases averaging $750 to $900 per month. The property's roof was recently replaced approximately 1.5 years ago, minimizing immediate maintenance concerns. The asking price for this multifamily property is $500,000, translating to a price per unit of $50,000. This presents a strong value proposition in the Memphis real estate market. The property's location in Shelby County, zip code 38114, offers convenient access to local amenities and transportation. This is an ideal investment for those seeking a stable, income-generating asset with potential for further value appreciation. The combination of renovated units, recent roof replacement, and strong rental rates makes this a truly attractive opportunity. Serious inquiries are encouraged.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $80,000
- ML approach
- $55,000
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Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.9772
- Latitude
- 35.1073
- CBSA code
- 32820
- CBSA name
- MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA
