32 N Belvedere Blvd

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32 N Belvedere Blvd

Memphis, TN 38104
Asking Price
$1.57M
Asset Type
Apartment Building Multifamily
Class
Class B

What's Special

MULTI PROPERTY SALE. Please see attached exhibit for complete list of properties. <p>Investment Opportunity in Midtown Memphis! Seller is selling 19 individual units (42 total bedrooms & 19 bathrooms). Properties are professionally managed and seller is interested in a bulk sale buyer to buy all 19 doors. Monthly current rent is $17,410 per monthly and each individual unit has a $160 per monthly HOA fee. There are five 3 bedroom units, thirteen 2 bedroom units, and 1 one bedroom unit at the properties. Units have been well maintained and only one unit is vacant as of April 20

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NOI
$80,000
Cap Rate
5.10%
DSCR
0.86
Underwater
Cash-on-Cash
-2.78%
Monthly Payment
$7,757.608
Annual Cash Flow
$-13,091.302

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