132 N Evergreen Ave
Memphis, TN 38104
- – beds
- – baths
- – sqft
- 1912 build
- – on site
This 8-unit multifamily property offers a mix of stabilized income and exceptional value-add potential, positioned perfectly for Memphis investors seeking reliable cash flow and upside. Located in the heart of Midtown, it benefits from high rental demand and proximity to the city’s most desirable amenities. ONLINE VIDEO AVAILABLE UPON REQUEST. Five fully renovated, furnished units previously operating as successful Airbnb rentals. Three long-term rental units in original condition, offering significant upside through renovation and modernization. As-Is Gross Annual Income: $78,600. 5 fully renovated and furnished units average $1,000/month each. 3 long-term rental (LTR) units average $650/month each. Renovation of the 3 LTR units to furnished long-term standards, with projected rents of $1,000/month each. Operating Expenses (Estimate): ~$23,000/year. Net Operating Income (As-is): ~$55,600. Projected NOI (Post-Renovation): ~$73,600.
Last checked:
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Last updated Jan 22, 2025
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MLS# 10188493 —
The Building
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Construction:Masonry/Block, Stone
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Type:Apartment Building
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Type Units:1 BR - 1 Bath
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Roof:Shingle/Shake
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Foundation:Other (See Remarks)
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Floors/Ceilings:Wood Laminate Floors
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# of Buildings:1
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Total # of Units:8
Financial & Terms
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New Financing:Other (Call LA)
Location
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Map Coordinate:B
The Property
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Area:746B
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Lot #:8
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Lot Size:0 Sqft
Listing Agent
- Contact info:
- Agent phone:
- (901) 871-1290
- Office phone:
- (901) 756-8900
The Listing
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Sale includes:Building and Land
Utilities
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Hot Water:Electrical, Gas
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Laundry:Connections, Dryer in Unit, Washer in Unit
Parking
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Parking Facility:Concrete
Extra Units
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# of Efficiency/Studio Units:2
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1 Bedroom Units:3
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2 Bedroom Units:3
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/21/25
Jan 21, 2025
|
Listed / Active | MAARMLS | $660,000 |
