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Delmar-Lema Village 1044 Delmar Ave

23 Unit Apartment Building $1,925,000 ($83,696/Unit) Memphis, TN 38105

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Investment Highlights

Historic District
Blocks from area hospitals
Gated Community

Close to Downtown Memphis
Renovated Units

Executive Summary

Price Improvement! Delmar-Lema Historic District Village w/ 23 units & gated near the Medical District. Units are 1 bed/1 bath & have renovated interiors w/ LVP flooring, new plumbing, fresh paint, & central HVAC. Exteriors have fresh paint & newer roofing. Entire perimeter is fenced & a solar powered entry gate has been installed. Just blocks from the VA Medical Center, LeBonheur Children's Hospital, Regional One, & close to downtown Memphis. Surrounding area is currently being revitalized w/ many new & upcoming developments! Video of community and surrounding areas on YT.

Property Facts

Price	$1,925,000	Lot Size	1.18 AC
Price Per Unit	$83,696	Building Size	13,800 SF
Sale Type	Investment	Average Occupancy	70%
No. Units	23	No. Stories	1
Property Type	Multifamily	Year Built/Renovated	1912/2024
Property Subtype	Apartment	Parking Ratio	1.3/1,000 SF
Apartment Style	Garden	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Building Class	C

Price	$1,925,000
Price Per Unit	$83,696
Sale Type	Investment
No. Units	23
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	1.18 AC
Building Size	13,800 SF
Average Occupancy	70%
No. Stories	1
Year Built/Renovated	1912/2024
Parking Ratio	1.3/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.