The Willows | 3985 New Willow Ave
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The Willows 3985 New Willow Ave
64 Unit Apartment Building $1,216,000 ($19,000/Unit) Memphis, TN 38111
Executive Summary
The Willows is a garden-style multifamily property that is currently 100% vacant and ready for a full renovation.
Overall renovation cost will be no less than $30,000 per unit. Pictures supplied by the owner and CoStar should give a good representation of past conditions. Note that half of the apartments have either fire, smoke, or water damage.
Interested investors/developers are hereby advised not to go on site without permission from owner and or agent.
Investor/developer must have major apartment renovation experience to qualify and be successful.
Overall renovation cost will be no less than $30,000 per unit. Pictures supplied by the owner and CoStar should give a good representation of past conditions. Note that half of the apartments have either fire, smoke, or water damage.
Interested investors/developers are hereby advised not to go on site without permission from owner and or agent.
Investor/developer must have major apartment renovation experience to qualify and be successful.
Property Facts
| Price | $1,216,000 | Building Class | C |
| Price Per Unit | $19,000 | Lot Size | 2.65 AC |
| Sale Type | Investment | Building Size | 69,302 SF |
| No. Units | 64 | Average Occupancy | 50% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1972 |
| Apartment Style | Garden | Parking Ratio | 1.88/1,000 SF |
| Price | $1,216,000 |
| Price Per Unit | $19,000 |
| Sale Type | Investment |
| No. Units | 64 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.65 AC |
| Building Size | 69,302 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 1.88/1,000 SF |
Unit Amenities
- Dishwasher
- Disposal
- Refrigerator
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 64 | - | 850 |
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PROPERTY TAXES
| Parcel Number | 05-8101-0-0002C | Improvements Assessment | $610,640 |
| Land Assessment | $114,000 | Total Assessment | $724,640 |
PROPERTY TAXES
Parcel Number
05-8101-0-0002C
Land Assessment
$114,000
Improvements Assessment
$610,640
Total Assessment
$724,640
zoning
| Zoning Code | R-MM |
| R-MM |
-
Steve Woodyard -
Woodyard Realty Corporation
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The Willows | 3985 New Willow Ave
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