Memphis TN Multi Family for Sale
$250,000
3468 BOWEN Ave Memphis, TN 38122
- Type:
- Fourplex
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.23 Acres
- Year built:
- 1925
- Baths:
- MLS#:
- 10183809
- Subdivision:
- HIGHLAND HEIGHTS BLK 14
View additional info
Courtesy: Memphis Metro Realty
Randall Weatherall
ADDITIONAL INFORMATION
Investors, here is your chance to get a 4-unit complex in a HOT part of town - close to Summer Ave., Berclair, Midtown and a lot of jobs! This spot has had a huge come-up in the last few years, with new businesses, apartment buildings, and city betterment initiatives going on nearby. Get in while it's affordable and reap the rewards for years to come with a cashflowing property offered at a killer price! 4 units total, 1 eff., 2 x 1/1 units, and 1 x 2/1 unit with a common laundry. Anchor tenant in place that keeps the property looking good and clean. The two rear ADUs are occupied currently and the front duplex is vacant and ready for tenants. Current rents are $475+$100/month for rent and utilities. Other is $685+$123.25/mon. Market rents for vacant units is $750 and $850 per month with $100-125/unit utility billback in lease. 2 units are vacant because current owner does not like Sec. 8 - if you aim for thatt, they should be filled pretty quickly!
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Memphis Real Estate
The median home value in Memphis, TN is $148,300. This is lower than the county median home value of $206,500. The national median home value is $338,100. The average price of homes sold in Memphis, TN is $148,300. Approximately 40.23% of Memphis homes are owned, compared to 45.77% rented, while 14% are vacant. Memphis real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Memphis real estate agent to arrange a tour today!
Memphis, Tennessee 38122 has a population of 634,139. Memphis 38122 is less family-centric than the surrounding county with 19.26% of the households containing married families with children. The county average for households married with children is 25.11%.
The median household income in Memphis, Tennessee 38122 is $43,981. The median household income for the surrounding county is $55,015 compared to the national median of $69,021. The median age of people living in Memphis 38122 is 34.2 years.
Memphis Weather
The average high temperature in July is 90.9 degrees, with an average low temperature in January of 30.3 degrees. The average rainfall is approximately 54.1 inches per year, with 3 inches of snow per year.