975 Marble Ave Memphis, TN 38107
- Commercial real estate
- 1,566 SF
Current Use by Public Records
- Commercial real estate
Property Details for 975 Marble Ave
- Year built
- 1940
- Property size
- 1,566 SF
- Property type
- Commercial real estate
Description
This charming, 1-story, 1940-built duplex in Memphis, Tennessee, presents a compelling value-add investment opportunity. Located at 975 Marble Ave, in Shelby County, this 1,566 square foot property boasts two units, each featuring two bedrooms and one bathroom. Currently operating at 100% occupancy, generating a net operating income (NOI) of $12,135, and a 10.56% capitalization rate, this property offers significant potential for increased profitability. Recent renovations include a newer roof and interior rehabilitation. The asking price is $114,900, translating to $73.37 per square foot and $57,450 per unit. The property's proximity to downtown Memphis makes it an attractive option for both investors and owner-occupants seeking a strong cash flow and potential for rental income growth. A drive-by is recommended; please do not disturb the residents. The property is classified as a Class C multifamily investment. Scheduled monthly income is $1,224.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -90.0243578
- Latitude
- 35.1722468
