Willie Mitchell Apartments | 1297 S Lauderdale St
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Willie Mitchell Apartments 1297 S Lauderdale St
33 Unit Apartment Building For Sale Memphis, TN 38106
Investment Highlights
- Positioned in an established neighborhood with good access to amenities and transit
- Situated in a strategic location with easy access to local amenities, public transportation, and major thoroughfares
- With 33 units, this multi-family complex offers a diverse range of housing options, making it ideal for a wide variety of tenants.
Executive Summary
Located at 1297 S Lauderdale St in Memphis, TN, Willie Mitchell Apartments is a multi-family property with a gross building area (GBA) of 20,820 square feet across two floors. The property features 33 residential units, making it a prime opportunity for multi-family investment in a well-established area. With its two-story design and significant unit count, the property offers a variety of residential options while maintaining efficient use of space. Priced at $2,800,000, the property presents a strong investment opportunity in the Memphis market.
Property Facts
| Sale Type | Investment | Building Size | 20,820 SF |
| No. Units | 33 | Average Occupancy | 33% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1959/2022 |
| Apartment Style | Low Rise | Parking Ratio | 1.49/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 1.20 AC |
| Sale Type | Investment |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.20 AC |
| Building Size | 20,820 SF |
| Average Occupancy | 33% |
| No. Stories | 2 |
| Year Built/Renovated | 1959/2022 |
| Parking Ratio | 1.49/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Tile Floors
- Kitchen
- Oven
- Range
- Tub/Shower
- Double Pane Windows
- Family Room
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Gated
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 500 |
| 2+1 | 32 | - | 635 |
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PROPERTY TAXES
| Parcel Number | 02-5059-0-0010 | Improvements Assessment | $36,440 |
| Land Assessment | $26,160 | Total Assessment | $62,600 |
PROPERTY TAXES
Parcel Number
02-5059-0-0010
Land Assessment
$26,160
Improvements Assessment
$36,440
Total Assessment
$62,600
zoning
| Zoning Code | RMM (Residential Multi-family Medium Density) |
| RMM (Residential Multi-family Medium Density) |
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Willie Mitchell Apartments | 1297 S Lauderdale St
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