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

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

ZONING

Zoning Code RU-3 (Residential Urban-3)
  • Listing ID: 34358889

  • Date on Market: 1/3/2025

  • Last Updated:

  • Address: 2227 Airways Blvd, Memphis, TN 38114