1616 Monroe Ave
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1616 Monroe Ave
8 Unit Block of Flats £611,475 (£76,434/Unit) 7.89% Net Initial Yield Memphis, TN 38104
Investment Highlights
- 8 Units Fully Renovated Available - Midtown
- All 1 Bedroom Unit
- Washers and Dryers
- Booming Midtown Memphis
- Fully Occupied
- New Roof
Executive Summary
This 8 unit building is located in Booming Mid Town Memphis. The property has been totally rehabbed. The units are all 1 bedroom. The scheduled monthly rents are 6925 per month. Drive by only. Please do not disturb the residents.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | $99,999 | $9.99 |
Taxes | $99,999 | $9.99 |
Operating Expenses | $99,999 | $9.99 |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Pro forma - 2024) Click Here to Access
Gross Rental Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Operating Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Total Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts Under Contract
Price | £611,475 | Building Class | C |
Price Per Unit | £76,434 | Lot Size | 0.18 AC |
Sale Type | Investment | Building Size | 5,740 SF |
Net Initial Yield | 7.89% | Average Occupancy | 90% |
No. Units | 8 | Number of Floors | 2 |
Property Type | Residential | Year Built/Renovated | 1960/2024 |
Property Subtype | Apartment | Parking Ratio | 1.74/1,000 SF |
Apartment Style | Low Rise |
Price | £611,475 |
Price Per Unit | £76,434 |
Sale Type | Investment |
Net Initial Yield | 7.89% |
No. Units | 8 |
Property Type | Residential |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.18 AC |
Building Size | 5,740 SF |
Average Occupancy | 90% |
Number of Floors | 2 |
Year Built/Renovated | 1960/2024 |
Parking Ratio | 1.74/1,000 SF |
Unit Mix Information
Description | No. Units | Avg. Rent.Mo | SF |
---|---|---|---|
1+1 | 8 | £686.43 | 745 - 995 |
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Walk Score ®
Very Walkable (86)
Bike Score ®
Very Bikeable (75)
PROPERTY TAXES
Parcel Number | 01-7039-0-0027 | Total Assessment | £165,122 |
Land Assessment | £9,563 | Annual Taxes | -£1 (£0.00/sf) |
Improvements Assessment | £155,559 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
01-7039-0-0027
Land Assessment
£9,563
Improvements Assessment
£155,559
Total Assessment
£165,122
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
zoning
Zoning Code | RMH |
RMH |
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1616 Monroe Ave
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