3468 Bowen Avenue
Memphis, TN 38122
$250,000
Price
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Description
Three of four occupied - current rents are $475+$100/month for rent and utilities. Unit 3 is $685+$123.25/mon, and unit 1 is getting $800+125 in utilities. Investors, here is your chance to get a 4-unit complex in a HOT part of town - close to Summer Ave., Berclair, Midtown and a lot of jobs! This spot has had a huge come-up in the last few years, with new businesses, apartment buildings, and city betterment initiatives going on nearby. Get in while it's affordable and reap the rewards for years...Three of four occupied - current rents are $475+$100/month for rent and utilities. Unit 3 is $685+$123.25/mon, and unit 1 is getting $800+125 in utilities. Investors, here is your chance to get a 4-unit complex in a HOT part of town - close to Summer Ave., Berclair, Midtown and a lot of jobs! This spot has had a huge come-up in the last few years, with new businesses, apartment buildings, and city betterment initiatives going on nearby. Get in while it's affordable and reap the rewards for years to come with a cashflowing property offered at a killer price! 4 units total, 1 eff., 2 x 1/1 units, and 1 x 2/1 unit with a common laundry. Market rent for vacant unit is $850 per month with $100-125/unit utility billback in lease. 1 unit is vacant.
- Listed by Randall Weatherall • Memphis Metro Realty
Property Details for 3468 Bowen Avenue
Area
751B
MAAR Subdivision NameHIGHLAND HEIGHTS BLK 14
Legal Subdivision NameHIGHLAND HEIGHTS BLK 14
LISTING UPDATED: 01/11/2025 07:19 AM
Property Details for 3468 Bowen Avenue
| Status | Active |
|---|---|
| MLS # | 10183809 |
| Days on Market | 99 |
| Taxes | $1,374 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family / Fourplex |
| Year Built | 1925 |
| Lot Size | 0.23 AC / 10,000 SF |
| County | Shelby County |
Building Information for 3468 Bowen Avenue
Stories1Residences4Year Built1925Building Size-Lot Size0.23 AC / 10,000 SF
Property Information for 3468 Bowen Avenue
Summary
Location and General Information
- Address: 3468 BOWEN AVE
- Address Search Number: 3468
- Directions: Driving W on Summer Ave, take a right onto N Highland St, then a left onto Bowen Ave. The units will be on the right.
- Geo Match Code: 0
- Geo Matched Method: 0
- Geo Quality: .95
- Geo Update Timestamp: 10-23-2024
- Geo Zoom Level: 16.00
- Map Coordinate: B
- MLS Map Num: Midtown/Holmes
Taxes and HOA Information
- Hot Water: Public Water, Public Sewer
- LVT Date: 10-23-2024
Property
Lot Information
- Lot Size: 50X200
- Lot Num: W PT 13
- Parcel ID: 038040 00022
- Zoning: RU-1
Property and Assessments
- Foundation: Slab, Raised
- Percent Occupancy: 50
- Service Type: Full Service Listing
Interior and Exterior Features
Exterior Features
- Roof: Composition
Interior Features
- Floors/Ceilings: Hardwood Throughout, Tile, Vinyl Floor
Multi Family
Multi-Family Information
- Num of 1 Bedroom Units: 2
- Num of 2 Bedroom Units: 1
- Num of 3 Bedroom Units: 0
- Num of Efficiency Studio Units: 1
- Num of Buildings: 3
- Num Other Units: 0
- Annual Misc Income: $2,679
- Assumption: No Assumption
- Construction: Wood/Composition, Aluminum/Steel Siding, Vinyl Siding
- Cooling Systems: Central, 1 Window Unit per Unit, 2+ Window Units per Unit
- Existing Financing: Conventional Fixed
- Gross Potential Annl Rent: $33,120
- Heating Systems: Central, Gas, Wall Heat
- Land Sqft: 10000
- Laundry: Common Laundry
- Miscellaneous Exterior: Sidewalks
- Operating Expenses: Management, Insurance, Some Utilities, Taxes
- Parking Facility: Gravel
- Possession: At Closing, Tenants Rights
- Sale Includes: Building and Land
- Source Of Info: Owner, Current Records, Leases, Rent Roll, P/L Statement
- Tenant Pays: Some Utilities, Trash Collection
- Type Units: Efficiency/Studio, 1 BR - 1 Bath, 2 BR - 1 Bath
Property History for 3468 Bowen Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 3468 Bowen Avenue
Taxable ValueLand$1,800Additions$20,760Total$22,560
Tax Record2023$1,374 ($115 / month)
Home Facts
Baths1Total Finished SqFt1,400 SqFtAbove Grade Finished SqFt1,400 SqFtStories1Lot Size9,975 SqFtStyleMulti-Family Res (5+ Units)Year Built1925Year Renovated1975ZoningRU-1CountySHELBYAPN038-040- - -00022Fireplace TypeHas Fireplace
Schools near 3468 Bowen Avenue
This home is within Shelby County Schools.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | K to 8 |
Rating | School | Distance |
|---|---|---|
Treadwell Elementary School PublicPK to 5 | ||
Treadwell Middle School Public6 to 8 | ||
Kingsbury High School Public9 to 12 | ||
Compass Community School Berclair Campus CharterK to 8 |
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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Listing Courtesy of Memphis Metro Realty