2227 Airways Blvd
Memphis, TN 38114
Multifamily Property For Sale · 42 Units
EXECUTIVE SUMMARY
-STABLE WITH VALUE ADD OPPORTUNITY
-NEAR MEMPHIS AIRPORT AND FEDEX SUPERHUB
-MAIN THOROUGHFARE; WALKABLE TO RETAIL
-NEW ROOFS IN 2021
-NEAR MEMPHIS AIRPORT AND FEDEX SUPERHUB
-MAIN THOROUGHFARE; WALKABLE TO RETAIL
-NEW ROOFS IN 2021
PROPERTY FACTS
| Price Per Unit | $57,000 |
| Sale Type | Investment |
| Cap Rate | 8.52% |
| Sale Condition | 1031 Exchange |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.76 AC |
| Building Size | 34,940 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2020 |
| Parking Ratio | 1.26/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Security System
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 42 | - | 625 |
PROPERTY TAXES
| Parcel Number | 06-0092-0-0015 | Improvements Assessment | $244,040 |
| Land Assessment | $46,040 | Total Assessment | $290,080 |
ZONING
| Zoning Code | RU-3 (Residential Urban-3) |
