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132 N Evergreen Ave

Memphis, TN 38104
  • $660,000
  • STATUS: Active
  • ON SITE: 23 Days
  • MLS #: 10188493
UPDATED: 160 min ago
$660,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1912
County:

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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© 2025 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 Gowen Property Group | Keller Williams Realty. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2025-02-14T00:03:13.33.
www.gowenpropertygroup.com/homes/159610287
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132 N Evergreen Ave Memphis, TN 38104

  • Price: $660,000
  • Status: Active
  • On Site: 23 Days
  • Updated: 160 min ago
  • MLS #: 10188493
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1912
Built
Neighborhood:
unknown
County:
Shelby
Area:
Central Gardens
Property 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.
Exterior Features

Buildings 1 Construction Masonry/BlockStone Foundation Other (See Remarks) Lot Size .158AC 50X137.7 Parking Facility Concrete Roof Shingle/Shake

Interior Features

Cooling Systems Other (See Remarks) Floors And Ceilings Wood Laminate Floors Heating Systems Other (See Remarks) Hot Water ElectricalGas Laundry ConnectionsDryer in UnitWasher in Unit

Property Features

1 Bedroom Units 3 2 Bedroom Units 3 3 Bedroom Units 0 Annual City Tax 3143 Annual County Tax 3943 Assumption Other (Call LA) Efficiency Studio Units 2 Existing Financing Other (See REMARKS) Legal Subdivision Name unknown Lot Number 8 Multifamily Type Apartment Building New Financing Other (Call LA) Operating Expenses InsuranceManagementSome UtilitiesTaxes Other Units 0 Possession NegotiableTenants Rights Sale Includes Building and Land Source Of Info Owner Tenant Pays Other (Call LA) Type Of Leases Other (Call LA) Type Of Units 1 BR - 1 Bath

Listing information © 2025 Memphis Area Association of REALTORS®.
Listing provided courtesy of Crye-Leike, Inc., REALTORS: 901-756-8900.



© 2025 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 Gowen Property Group | Keller Williams Realty. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2025-02-14T00:03:13.33.
 
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Gowen Property Group | Keller Williams Realty
5847 Getwell Rd, Bldg B1
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