loading
reading
writing
saving
searching
$640,000 / 1br - 9100ft2 - Turnkey Rental Property - 24 W Colorado Ave (Memphis, TN)
24 W Colorado Ave, Memphis, TN 38106
QR Code Link to This Post
Year Built: 1957- all units rehabbed in 2024
Occupancy Status: ONLY 3 Vacant units- Average rents $500 a month
16-Unit Apartment Complex – All units renovated, each 1 bed/1 bath, walking distance to downtown Memphis, TN. Huge potential with location!
Current rent avg: $500/mo per unit, $250 deposit
Tenants pay own utilities (trash included), owner pays water ($185/mo avg)
Potential rent: $600/mo per unit = $9,600/mo ($115,200/yr)
Insurance: $5,031/yr
Taxes: $2,977/yr
👉 Updated last in 2024, strong upside in rents & value!
Want me to make a version styled more like a real estate listing ad (catchy, marketing tone) or more like a straight investor pro forma?