Entity Owned Property summary
This exceptional investment opportunity presents two adjacent, renovated apartment complexes in Memphis, Tennessee, totaling 14 units. Located at 972 Peabody Ave and 336 S Dudley St, in the 38104 zip code, this 0.568-acre property offers a compelling return. The buildings, constructed in 1963, are two-story structures, each contributing to the overall portfolio. The complex comprises 13 two-bedroom, one-bathroom units and a single one-bedroom, one-bathroom unit. The one-bedroom unit was thoughtfully modified to include a laundry room. This prime location is situated near the thriving Medical District, a significant employment hub, ensuring consistent tenant demand. The asking price for this multifamily property is $1,330,000, representing a price per unit of $95,000. This package deal offers a rare chance to acquire a well-maintained, income-generating asset in a high-demand area. The property's proximity to the Medical District makes it an attractive investment for both short-term and long-term growth. The existing tenant base provides immediate cash flow, while the potential for future appreciation adds to the overall value proposition. This is a turnkey investment ready for immediate returns.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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 …
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Price sensitivity
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Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
RU-3 · Memphis, TNHousing 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 …
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
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 …
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for RU-3 in Memphis, TN.
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