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Property profile & analytics
OFF-MARKET Estimated value $2,170,000
Apartment buildings

2503 Reese Grv Ct Memphis, TN 38133-8516

22,656 SF 6.93 ac lot Built 2001
Individually Owned 11-yr Hold
Property ID
US80-0805859
Property profile
Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 2001
Construction FRAME
Total area 22,656 SF
Lot 6.93 ac (301,871 SF)
Zoning code RU-3
APN 095-300- - -00273
UPID US80-0805859
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Reese Road Apartments Apartment Building Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$2.61M
Comparable Approach Comparable
$1.91M
Blend (final) Blend
$2.17M
Owner & transaction history
Countryside Village Apartments · 11 yrs held
Countryside Village Apartments
since 2014
7 recorded transactions
2014
Price N/A
2014
$3.3M
2014
$2.5M
2011
Price N/A
2011
$326,500
2007
$317,000
2007
$372,000
Zoning & alternative use
RU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Housing Type RU-1 RU-2 RU-3 RU-4 RU-5 Conventional Side Yard House Cottage ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- -- Semi-Attached Two-Family Townhouse ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- ■ Large Home Stacked Townhouse Apartment   -- ■ ■ -- ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ = Permitted -- = not permitted  = permitted by Special Use Permit Building Regulations for Permitted Housing…

Zone name Residential Urban 3
General category RESIDENTIAL
Zone area 7,600.37 ac
Source CHAPTER 1
Top alternative use upside
Medical building $3.2M +60.8%
Office building $2.7M +34.1%
Auto repair, garage $2.2M +9.0%
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