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3160 Spottswood Ave

Memphis, TN 38111
  • $600,000
  • STATUS: Active
  • ON SITE: 39 Days
  • MLS #: 10167380
$600,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1920
County:

School Ratings & Info

Description

EXCELLENT opportunity to own a small MFU by the U of M! The area is booming right now and this type of unit is very rare. New septic in 2022; various ext./int. repairs, including unit turns last year. Utility billback in place at $750/month (would be 875 with all units occupied). Large attic and basement for possible expansion - more units=more money! 5/6 units occupied, bringing in $4765+$750(utilities)/month with the vacant being marketed for $850. Possible upside. No assignments/wholesalers

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© 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 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: 2024-04-04T00:03:56.823.
www.gowenpropertygroup.com/homes/148367554
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3160 Spottswood Ave Memphis, TN 38111

  • Price: $600,000
  • Status: Active
  • On Site: 39 Days
  • MLS #: 10167380
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1920
Built
Neighborhood:
Spottswood
County:
Shelby
Area:
Pendleton/Park
Property Description
EXCELLENT opportunity to own a small MFU by the U of M! The area is booming right now and this type of unit is very rare. New septic in 2022; various ext./int. repairs, including unit turns last year. Utility billback in place at $750/month (would be 875 with all units occupied). Large attic and basement for possible expansion - more units=more money! 5/6 units occupied, bringing in $4765+$750(utilities)/month with the vacant being marketed for $850. Possible upside. No assignments/wholesalers
Exterior Features

Buildings 2 Construction StoneWood/Composition Foundation Conventional/Crawl SpaceFull BasementUnfinished Basement Land Sq Ft 22550 Lot Size 115/110X205 Parking Facility Asphalt/Blacktop Roof PitchedShingle/Shake

Interior Features

Cooling Systems 1 Window Unit per Unit2+ Window Units per UnitCentral Floors And Ceilings Hardwood ThroughoutOther (See Remarks)TileVinyl Floor Heating Systems CentralOther (See Remarks) Hot Water GasPublic SewerPublic Water Improved Sq Ft 8904 Laundry Connections

Property Features

1 Bedroom Units 2 2 Bedroom Units 2 3 Bedroom Units 1 Actual Annual Rent 57180 Annual City Tax 2187 Annual County Tax 2745 Annual Misc Income 9000 Assumption No Assumption Contingency Type No Contingency Efficiency Studio Units 1 Existing Financing Conventional Fixed Gross Potential Annual Rent 72000 Legal Subdivision Name SPOTTSWOOD Lot Number 5 Multifamily Type Other (See REMARKS) New Financing Conventional Operating Expenses InsuranceManagementRepairs/MaintenanceSome UtilitiesTaxes Other Units 0 Percent Occupancy 83 Possession Tenants Rights Sale Includes Building and Land Source Of Info Current RecordsLeasesOwnerP/L StatementRent Roll Tenant Pays Some Utilities Type Of Leases MonthlyYear Type Of Units 1 BR - 1 Bath2 BR - 1 Bath3 BR - 1 BathEfficiency/Studio Zoning RU-1

Listing information © 2024 Memphis Area Association of REALTORS®.
Listing provided courtesy of Memphis Metro Realty: 901-352-6200.



© 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 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: 2024-04-04T00:03:56.823.
 
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Gowen Property Group | Keller Williams Realty
5847 Getwell Rd, Bldg B1
Southhaven MS, 38672