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15 Contiguous Duplexes in Memphis, TN for
Sale
3240 Walnut Grove Road
Memphis, TN 38111
Units: 30
Building: 30,000 sq ft
Lot Size: 3.00 Acres
Occupancy: 95%
Price: $1,200,000
Price Per Unit: $40,000.00
Cap Rate: 11.25%
Year Built: 1946
Property
Description:
MOTIVATED SELLER!! HAS ANOTHER DEAL AND NEEDS TO
CLOSE QUICKLY.
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Fifteen 2
bedroom/1 bath adjacent duplexes recently
renovated on large lots in prime location.
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Each side
of duplex is 950 sq ft with hardwood floors,
spacious bedrooms and new appliances.
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Tenants on
1 year leases. Tenants pay all utilities.
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Seller
financing available at below market rate
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9.0% Cap
Rate on actual income and expenses -- with lots
of upside.
Unit Mix
Information
2b/1b each side of duplex
SF: 950
Avg. Mo. Rent: $575
Location:
The duplexes are located near Midtown on Walnut
Grove Road (at N. Holmes). Only minutes away from
Univ. of Memphis, Shelby County Library, shopping
and schools.
Loan
Description:
Seller financing at 6.0% interest only fixed for 9
years. No prepay and fully assumable. Depending on
strength of buyer, flexible on terms and down
payment.
Contact John DeZee at (310)
753-7579
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Apartment Investments
A Great New Book Full of What Investors
Need to Know.
Comment
Dear
Richard,
Thank You very much for your help on the
financing. The rate turns out to be better than
expected...
Joe D.
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