2038 Southern Ave, Memphis, TN 38114-2148
- Apartment buildings
- 2,262 SF
- 0.84 lot acres
Current Use by Public Records
- The Wendell Apartments / Apartment Complex
Property Details for 2038 Southern Ave
- Year built
- 1960
- Lot size
- 0.84 lot acres
- Zone code
- RU-3
- Property type
- Apartment buildings
- APN
- 031-117- - -00014
- APU
- 3111700014
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| May 13, 2022 | $2,970,000 | 26 Ted LLC | 2038 Southern Partners LLC | Special Warranty Deed | $2.4M · Financial Federal Bank |
| Sep 9, 2020 | $625,000 | 2038 Southern Partners LLC | Your Home LLC | Warranty Deed | $1.3M · First Com'l Bk |
| May 25, 2016 | $525,001 | Your Home LLC | Campbell L Hunt|james,bret S & Jennifer D | Trustees Deed | $567k · First Alliance Bk |
| Jan 7, 2000 | $239,000 | Bret S James | Southernwood Ltd | Grant Deed | $191k · Southtrust Bank NA |
| — | — | Bret S James | — | Deed Of Trust · related | $370k · First Alliance Bank Fsb |
| — | — | Bret S James | — | Deed Of Trust · related | $370k · First Alliance Bank Fsb |
| — | — | Your Home LLC | — | Deed Of Trust · related | $567k · First Alliance Bk |
| — | — | Bret S James | — | Deed Of Trust · related | $150k · Southtrust Bank NA |
Description
This exceptional 24-unit apartment building presents a compelling investment opportunity in Memphis, Tennessee's vibrant Cooper Young district. Located at 2038 Southern Ave, zip code 38114, this property boasts a total of 15,822 square feet across four, two-story buildings situated on a 0.84-acre lot. Originally constructed in 1960, the property underwent a complete renovation in 2022, resulting in a turnkey, stabilized asset. Upgrades include new flooring, updated kitchens and bathrooms, exterior enhancements, and attractive landscaping. Each of the 24 units is equipped with a stacked washer/dryer. The asking price is $3,120,000, translating to $130,000 per unit and $197.19 per square foot. The property's location within the thriving Cooper Young district provides immediate access to a diverse range of restaurants, bars, and arts venues, ensuring strong rental demand and potential for future appreciation. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a highly desirable Memphis neighborhood. The property is ready for immediate income generation.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,360,000
- ML approach
- $2,485,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.9942
- Latitude
- 35.1166
- CBSA code
- 32820
- CBSA name
- MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA
