Property Description

Great investment opportunity! Gated Delmar-Lema Village with 23 units near the Medical District. 7% pro forma cap rate. 1 bed/1 bath units with extensive capital improvements: LVP flooring, interior paint, new plumbing, stainless steel appliances, central heat and A/C, and more. All exteriors have fresh paint and newer roofing. Entire perimeter is fenced with solar powered double entry security gate installed at the entrance. Just blocks from the VA Medical Center, LeBonheur Children’s Hospital, Regional One, and close to downtown Memphis. Surrounding area is currently being revitalized with many new & upcoming developments. Seller financing will be considered.

Features

Heating System:: Central
Cooling System:: Central
FOUNDATION:: Conventional/crawl Space
Parking Facility:: Asphalt/blacktop

Address Map

Country:: US
State:: TN
County:: Shelby
City:: Memphis
Subdivision:: HARVEY
Zipcode:: 38105
Street:: DELMAR
Street Number:: 1044
Street Suffix:: AVE
Floor Number:: 0
Longitude:: W91° 58' 30.7''
Latitude:: N35° 8' 54.6''
Directions:: Heading West on Poplar Avenue towards downtown, turn right on Decatur Street. Delmar Avenue is the last street on the right. The Delmar-Lema Historic District Village will be on the left.