139 N Claybrook St, Memphis, TN 38104 For Sale

Opportunity to acquire a 20 unit multifamily property in Midtown Memphis. The property includes sixteen one bedroom units and four two bedroom units. 

The property is currently undergoing significant renovations with approximately $450,000 in improvements. At 139 N Claybrook the units feature new tile flooring, updated kitchens, and renovated or partially updated bathrooms along with new exterior and security doors.  At 141 N Claybrook nearly all units are being fully renovated including new windows, doors, upgraded electrical panels, and all new central heating and cooling systems. Nine of the ten units on this side will be fully renovated. The property is currently leasing up with six units occupied and a seventh tenant in the approval process. Professional property management is already in place, charging a six percent management fee.

All units have central heat and AC with gas systems. Owner pays house elcectric & water and tenants pay for all individual utilities.   

This offering provides investors the opportunity to acquire a renovated multifamily asset in Midtown Memphis with upside as remaining units are completed and leased. Proforma rent roll is over $18,000/Month rent+.