3468 Bowen Avenue
Memphis, TN 38122
$250,000
Price
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Beds
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Description
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. Anchor tenant in...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. Anchor tenant in place that keeps the property looking good and clean. The two rear ADUs are occupied currently and the front duplex is vacant and ready for tenants. Current rents are $475+$100/month for rent and utilities. Other is $685+$123.25/mon. Market rents for vacant units is $750 and $850 per month with $100-125/unit utility billback in lease. 2 units are vacant because current owner does not like Sec. 8 - if you aim for thatt, they should be filled pretty quickly!
- 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: 12/18/2024 03:24 PM
Property Details for 3468 Bowen Avenue
| Status | Active |
|---|---|
| MLS # | 10183809 |
| Days on Market | 59 |
| 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 Sewer, Public Water
- 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: Raised, Slab
- 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: Aluminum/Steel Siding, Vinyl Siding, Wood/Composition
- Cooling Systems: 1 Window Unit per Unit, 2+ Window Units per Unit, Central
- 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: Insurance, Management, Some Utilities, Taxes
- Parking Facility: Gravel
- Possession: At Closing, Tenants Rights
- Sale Includes: Building and Land
- Source Of Info: Current Records, Leases, Owner, P/L Statement, Rent Roll
- Tenant Pays: Some Utilities, Trash Collection
- Type Units: 1 BR - 1 Bath, 2 BR - 1 Bath, Efficiency/Studio
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