132 North Evergreen Street

Memphis, TN 38104

$660,000
Price
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Description

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...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.
  1. Listed by Tyler Tapley • Crye-Leike, Inc., REALTORS
  2. Listed by Meatha Haynes Tapley • Crye-Leike, Inc., REALTORS

Property Details for 132 North Evergreen Street

Area
746B
MAAR Subdivision Name
unknown
Legal Subdivision Name
unknown
LISTING UPDATED: 01/21/2025 10:46 AM

Property Details for 132 North Evergreen Street

StatusActive
MLS #10188493
Days on Market28
Taxes$7,086 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Apartment Building
Year Built1912
Lot Size0.00 AC / 21 SF
CountyShelby County

Building Information for 132 North Evergreen Street

Stories2Residences8Year Built1912Building Size-Lot Size0.00 AC / 21 SF

Property Information for 132 North Evergreen Street

Summary
Location and General Information
  • Address: 132 N EVERGREEN AVE
  • Address Search Number: 132
  • Directions: From Poplar, S on Evergreen, home on L
  • Geo Match Code: 0
  • Geo Matched Method: 0
  • Geo Quality: .95
  • Geo Update Timestamp: 01-21-2025
  • Geo Zoom Level: 16.00
  • Map Coordinate: B
  • MLS Map Num: Central Gardens
Taxes and HOA Information
  • Hot Water: Electrical, Gas
  • LVT Date: 01-21-2025
Property
Lot Information
  • Lot Size: .158AC 50X137.7
  • Lot Num: 8
  • Parcel ID: 017044 00054C
Property and Assessments
  • Foundation: Other (See Remarks)
  • Service Type: Full Service Listing
Interior and Exterior Features
Exterior Features
  • Roof: Shingle/Shake
Interior Features
  • Floors/Ceilings: Wood Laminate Floors
Multi Family
Multi-Family Information
  • Num of 1 Bedroom Units: 3
  • Num of 2 Bedroom Units: 3
  • Num of 3 Bedroom Units: 0
  • Num of Efficiency Studio Units: 2
  • Num of Buildings: 1
  • Num Other Units: 0
  • Assumption: Other (Call LA)
  • Construction: Stone, Masonry/Block
  • Cooling Systems: Other (See Remarks)
  • Existing Financing: Other (See REMARKS)
  • Heating Systems: Other (See Remarks)
  • Laundry: Washer in Unit, Dryer in Unit, Connections
  • Operating Expenses: Management, Insurance, Some Utilities, Taxes
  • Parking Facility: Concrete
  • Possession: Negotiable, Tenants Rights
  • Sale Includes: Building and Land
  • Source Of Info: Owner
  • Tenant Pays: Other (Call LA)
  • Type Units: 1 BR - 1 Bath

Property History for 132 North Evergreen Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 132 North Evergreen Street

Taxable ValueLand$10,600Additions$105,720Total$116,320
Tax Record2023$7,086 ($590 / month)
Home Facts
Baths1Total Finished SqFt3,829 SqFtAbove Grade Finished SqFt3,829 SqFtStories1Lot Size6,839 SqFtStyleMulti-Family Res (5+ Units)Year Built1912Year Renovated1970ZoningRU-3CountySHELBYAPN017-044- - -00054-CFireplace TypeHas Fireplace

Schools near 132 North Evergreen Street

This home is within Shelby County Schools.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - K to 5
Public - 9 to 12
Charter - 7 to 12
Rating
School
Distance
Hamilton School
PublicPK to 8

Idlewild Elementary School
PublicK to 5

Central High School
Public9 to 12

Compass Community School Midtown Campus
Charter7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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132 North Evergreen Street is a multi-family home for sale in Memphis, TN 38104. This property was listed for sale on January 21, 2025 by Crye-Leike, Inc., REALTORS, it's currently listed at $660,000. It has been on the market for a total of 28 days and was last sold on March 31, 2020. This listing's school districts are Shelby County Schools, Achievement School District. Nearby schools include Hamilton School, Idlewild Elementary School and Central High School. 132 North Evergreen Street is a 0-bed, 0-bath, multi-family home built in 1912.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Crye-Leike, Inc., REALTORS