
Description
This 8-unit multifamily property offers a mix of stabilized income and exceptional value-add potential, positioned perfectly for Memphis investors seeking reliable cash flow and upside. Located in the heart of Midtown, it benefits from high rental demand and proximity to the citys most desirable amenities. ONLINE VIDEO AVAILABLE UPON REQUEST. Five fully renovated, furnished units previously operating as successful Airbnb rentals. Three long-term rental units in original condition, offering significant upside through renovation and modernization. As-Is Gross Annual Income: $78,600. 5 fully renovated and furnished units average $1,000/month each. 3 long-term rental (LTR) units average $650/month each. Renovation of the 3 LTR units to furnished long-term standards, with projected rents of $1,000/month each. Operating Expenses (Estimate): ~$23,000/year. Net Operating Income (As-is): ~$55,600. Projected NOI (Post-Renovation): ~$73,600.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
This 8-unit multifamily property offers a mix of stabilized income and exceptional value-add potential, positioned perfectly for Memphis investors seeking reliable cash flow and upside. Located in the heart of Midtown, it benefits from high rental demand and proximity to the citys most desirable amenities. ONLINE VIDEO AVAILABLE UPON REQUEST. Five fully renovated, furnished units previously operating as successful Airbnb rentals. Three long-term rental units in original condition, offering significant upside through renovation and modernization. As-Is Gross Annual Income: $78,600. 5 fully renovated and furnished units average $1,000/month each. 3 long-term rental (LTR) units average $650/month each. Renovation of the 3 LTR units to furnished long-term standards, with projected rents of $1,000/month each. Operating Expenses (Estimate): ~$23,000/year. Net Operating Income (As-is): ~$55,600. Projected NOI (Post-Renovation): ~$73,600.
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