2271 Airways Blvd
Memphis, TN 38114
Crane Manor · Multifamily Property For Sale · 178 Units
INVESTMENT HIGHLIGHTS
- Central Memphis location!
- Leasing and collections are steady despite COVID
- Once renovated, units rent easily!
PROPERTY FACTS
| No. Units | 178 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 8.70 AC |
| Building Size | 150,010 SF |
| Average Occupancy | 28% |
| No. Stories | 2 |
| Year Built/Renovated | 1969/2015 |
| Parking Ratio | 2.12/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
- Property Manager on Site
- Security System
- Gated
ABOUT 2271 AIRWAYS BLVD , MEMPHIS, TN 38114
Property originally constructed in 1969. Starting in 2015 owner has performed renovations on approximately 33% of the property. Centrally located about 10 minutes from the airport. With approximately $1,400,000 in repairs and renovations you could raise the value to approximately $6,700,000.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 80 | $422.00 | 450 - 660 |
| 2+1 | 28 | $532.00 | 650 |
| 2+2 | 70 | $589.50 | 885 - 1,045 |
PROPERTY TAXES
| Parcel Number | 06-0092-0-0020C | Improvements Assessment | $411,240 |
| Land Assessment | $304,400 | Total Assessment | $715,640 |
ZONING
| Zoning Code | RMM |
