3023 LAMAR AVE, MEMPHIS, TN 38114

3023 Lamar Ave Memphis, TN 38114

Investment Highlights

• • Investment Opportunity.
  • CMU1- CMU3 zoning
  • 0.3 mile easy access to I-240 interchange from Lamar Ave
  • Mobile Home Park, Commercial Building, Duplex

Property Facts

Description

Located in Memphis, Tennessee and currently available is a 3.8 acre tract that is home to a 65 pad Mobile Home Park, 2 mobile homes and 2 outbuildings. This property is being sold at ONLINE AUCTION closing 12 noon June 2.

The Winning Bidder will walk away with and 3.8 acre tract with the following improvements:

1 mobile home that is rented at $400 per month and another that is being used for storage.

65 mobile home lots of which 3 are rented at $400 per month each. ($1,200 total per mnth)

1 building on site that is rented for $2,000 per month and is operated by the tenant as a restaurant.

1 Duplex on site that is rented at $450 per month per side ($900 total per mnth)

The remaining Mobile Home Pads range in monthly rent from $300 to $450 per pad.

Competing pad monthly rental rates in the area range between $325.00 to $450.00 per pad.