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Description

Rare opportunity for a new buyer to own a HAP (all section 8) property. Buyer must qualify to continue status. 44 Units, w/ 11 Buildings. All units are spacious 1 BR/1BA. Gross potential rent is $263,472. Owner receives rent directly from Government. Central H/A w/ pitched roofs, new energy efficient windows! Great midtown near isolated location & in walking distance to several large companies. This complex practically runs itself! No major rehab needed! Contact me today, won't last long!

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© 2021 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 The Wallace Team - RE/MAX On Point. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2021-09-16T20:03:03.38.
www.gowallacegroup.com/homes/118922879
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1024 Tillman St Memphis, TN 38112

  • Price: $2,300,000
  • Status: Active
  • Updated: 61 min ago
  • ID#: 10103068
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Beds
0
Baths
0
½ Baths
N/A
Acres
1972
Built
Neighborhood:
Kenneth Garrett
County:
Shelby
Area:
Midtown/Holmes
Property Description
Rare opportunity for a new buyer to own a HAP (all section 8) property. Buyer must qualify to continue status. 44 Units, w/ 11 Buildings. All units are spacious 1 BR/1BA. Gross potential rent is $263,472. Owner receives rent directly from Government. Central H/A w/ pitched roofs, new energy efficient windows! Great midtown near isolated location & in walking distance to several large companies. This complex practically runs itself! No major rehab needed! Contact me today, won't last long!
Exterior Features

Buildings 11 Construction BrickEnergy Features Foundation Conventional/Crawl Space Land Sq Ft 99665 Lot Size 0 Misc Exterior SidewalksDedicated StreetsSome LandscapingFully FencedSecurity Gate Parking Facility Asphalt/Blacktop Roof PitchedShingle/Shake

Interior Features

Appliances Equipment RefrigeratorSmoke Detector(S) Cooling Systems Central Floors And Ceilings Hardwood ThroughoutPartial CarpetWood Laminate FloorsOther (See Remarks) Heating Systems Central Hot Water Gas Improved Sq Ft 32472 Laundry Common Laundry

Property Features

1 Bedroom Units 44 2 Bedroom Units 0 3 Bedroom Units 0 Amenities Dumpster Annual City Tax 9071 Annual County Tax 11496 Annual Insurance Expenses 221556 Assumption No QualifyingOther (Call La) Contingency Type No Contingency Efficiency Studio Units 0 Existing Financing Other (See Remarks) Gross Potential Annual Rent 263472 Legal Subdivision Name Garrett Kenneth Multifamily Type Flat/Garden Units New Financing ConventionalCash OnlyPrivateOwner Mortgage Operating Expenses ManagementInsuranceRepairs/MaintenanceTaxesAccounting/Legal Other Units 0 Percent Occupancy 83 Possession At ClosingTenants Rights Sale Includes Building And LandAll AppliancesSignageBusiness Name Source Of Info Owner Tenant Pays GasElectricSecurity Deposit Type Of Leases Year Type Of Units 1 Br - 1 Bath

Listing information © 2021 Memphis Area Association of REALTORS®.
Listing provided courtesy of Braden, Braden & Braden Llc.



© 2021 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 The Wallace Team - RE/MAX On Point. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2021-09-16T20:03:03.38.
 
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The Wallace Team - RE/MAX On Point
5350 Poplar Ave., Ste 700
Memphis TN, 38119