Skip To Content

655 E Mclemore Ave

Memphis, TN 38106
  • $120,000
  • STATUS: Active
  • ON SITE: 84 Days
  • MLS #: 10162170
UPDATED: 36 min ago
$120,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1936
County:

School Ratings & Info

Description

The asset at 655 E McLemore is a four-unit value-add property. The property is currently running at a 25% occupancy, with all of the units in need of full renovations. Each unit is two bedrooms with one full bathroom. The current tenant is paying $375 a month. The market rent for this unit type is approximately $700-$800 a month. Renovations are recommended to generate the market rent which is attainable due to the location of the property.

Monthly Payment Calculator



© 2024 Memphis Area Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Red Sea Realty Co LLC. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2024-02-29T14:03:35.627.
www.redsearealtyco.com/homes/145826011
Print Image

655 E Mclemore Ave Memphis, TN 38106

  • Price: $120,000
  • Status: Active
  • On Site: 84 Days
  • Updated: 36 min ago
  • MLS #: 10162170
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1936
Built
Neighborhood:
Pond
County:
Shelby
Area:
South Memphis/61 Hwy
Property Description
The asset at 655 E McLemore is a four-unit value-add property. The property is currently running at a 25% occupancy, with all of the units in need of full renovations. Each unit is two bedrooms with one full bathroom. The current tenant is paying $375 a month. The market rent for this unit type is approximately $700-$800 a month. Renovations are recommended to generate the market rent which is attainable due to the location of the property.
Exterior Features

Buildings 1 Construction Brick Foundation Full Basement Lot Size 50 X 170 Parking Facility Asphalt/Blacktop Roof PitchedShingle/Shake

Interior Features

Cooling Systems Other (See Remarks) Floors And Ceilings Hardwood Throughout Heating Systems Other (See Remarks) Hot Water Other (See REMARKS)Public Water Laundry Connections

Property Features

1 Bedroom Units 0 2 Bedroom Units 4 3 Bedroom Units 0 Annual City Tax 321 Annual County Tax 403 Assumption Other (Call LA) Contingency Type No Contingency Efficiency Studio Units 0 Existing Financing Other (See REMARKS) Legal Subdivision Name POND Lot Number 17 Multifamily Type Fourplex New Financing Other (Call LA) Operating Expenses Other (Call LA) Other Units 0 Possession At Closing Sale Includes Building and Land Source Of Info Owner Tenant Pays ElectricGas Type Of Leases Other (Call LA) Type Of Units 2 BR - 1 Bath

Listing information © 2024 Memphis Area Association of REALTORS®.
Listing provided courtesy of Braden, Braden & Braden LLC: 901-881-2070.



© 2024 Memphis Area Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Red Sea Realty Co LLC. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2024-02-29T14:03:35.627.
 
https://bt-photos.global.ssl.fastly.net/memphis/1280_boomver_1_10162170-2.jpg https://bt-photos.global.ssl.fastly.net/memphis/1280_boomver_1_10162170-2.jpg https://bt-photos.global.ssl.fastly.net/memphis/1280_boomver_1_10162170-2.jpg
Logo
Red Sea Realty Co LLC
6812 Crumpler Blvd, Suite 104
Olive Branch MS, 38654