580 Mckinley St, Memphis, TN 38126
7 Unit Apartment Building | $395,000 ($56,429/Unit) | 10.03% Cap Rate | Memphis, TN 38126
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $395,000
- Property Type
-
Multifamily
- Square Feet
- 4,725 SF
Listing Contacts
Jessica Sewell
Verified Profile
- Property Info
Property Overview
Three duplexes and one single family residence on one parcel. Great location near downtown and the Medical District. All units are 2/1. Current scheduled monthly income is $4,150 (six units are at $600 and one is at $550). 1/1 units around the corner are renting at $750+, 2/1 units for $850+. Opportunity for a new owner to raise rents to market rates and potentially subdivide property into at least 2 lots as well.
Property Details
- Class
- C
- Year Built/Renovated
- 1945/2016
- Stories
- 1
- Lot Size (sq. ft)
- 21,344 SF
- Units
- 7
Highlights
- Fully Occupied!
- Close to Medical District!
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