374 North Dunlap Street

Memphis, TN 38105

$535,000
Price
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Description

Located in a strong rental neighborhood, this value-add investment is strategically positioned for a new buyer. The opportunity provides a new investor with the ability to achieve significant upside from a well-located asset. The property is located just 1 block from the Medical District and 1 mile from the Crosstown Concourse. Nicely manicured with an open, U shaped layout, the property feels large and welcoming. All units feature 1 bedroom and 1 bathroom. The current owner has fully renovated 6...Located in a strong rental neighborhood, this value-add investment is strategically positioned for a new buyer. The opportunity provides a new investor with the ability to achieve significant upside from a well-located asset. The property is located just 1 block from the Medical District and 1 mile from the Crosstown Concourse. Nicely manicured with an open, U shaped layout, the property feels large and welcoming. All units feature 1 bedroom and 1 bathroom. The current owner has fully renovated 6 of the 10 units along with other capital improvements, including window, plumbing, and electrical updates, as well as a new roof in 2022. A few upgrades and some well-placed capital improvements by a new investor can significantly drive both rents and long-term value.
  1. Listed by Jessica Sewell • Prime Real Estate Group

Property Details for 374 North Dunlap Street

Area
741E
MAAR Subdivision Name
Lane
Legal Subdivision Name
Lane
LISTING UPDATED: 10/29/2024 11:40 PM

Property Details for 374 North Dunlap Street

StatusActive
MLS #10184186
Days on Market3
Taxes$1,792 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Apartment Building
Year Built1959
Lot Size0.34 AC / 14,810 SF
CountyShelby County

Building Information for 374 North Dunlap Street

Stories1Residences10Year Built1959Building Size-Lot Size0.34 AC / 14,810 SF

Property Information for 374 North Dunlap Street

Summary
Location and General Information
  • Address: 374 N DUNLAP ST
  • Address Search Number: 374
  • Directions: From Midtown, go West on Poplar, turn North on Dunlap. Property is on the right.
  • Geo Match Code: 0
  • Geo Matched Method: 0
  • Geo Quality: .95
  • Geo Update Timestamp: 10-30-2024
  • Geo Zoom Level: 16.00
  • Map Coordinate: E
  • MLS Map Num: Harbor Town/Downtown
Taxes and HOA Information
  • Hot Water: Electrical
  • LVT Date: 10-29-2024
  • Annual Insurance Expenses: $4,911
Property
Lot Information
  • Lot Size: 0.34 acres
  • Parcel ID: 051014 00047
Property and Assessments
  • Foundation: Slab
  • Percent Occupancy: 80
  • Service Type: Full Service Listing
Interior and Exterior Features
Exterior Features
  • Roof: Composition
Interior Features
  • Appliances / Equipment: Refrigerator, Range/Oven (Freestanding), Smoke Detector(s)
  • Floors/Ceilings: Tile, Wood Laminate Floors
Multi Family
Multi-Family Information
  • Num of 1 Bedroom Units: 10
  • Num of 2 Bedroom Units: 0
  • Num of 3 Bedroom Units: 0
  • Num of Efficiency Studio Units: 0
  • Num of Buildings: 1
  • Num Other Units: 0
  • Assumption: No Assumption
  • Average Annual Utilities: $1,920
  • Construction: Brick
  • Cooling Systems: Electrial, Other (See Remarks)
  • Existing Financing: Conventional Fixed
  • Gross Potential Annl Rent: $120,000
  • Heating Systems: Electrical, Other (See Remarks)
  • Improved Sqft: 5000
  • Land Sqft: 14850
  • Laundry: None
  • Operating Expenses: Insurance, Management, Repairs/Maintenance, Some Utilities, Taxes
  • Parking Facility: Gravel, Offsite/Street
  • Possession: At Closing
  • Sale Includes: Building and Land
  • Source Of Info: Owner
  • Tenant Pays: Electric, Gas, Trash Collection
  • Type Units: 1 BR - 1 Bath

Property History for 374 North Dunlap 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 374 North Dunlap Street

Taxable ValueLand$11,880Additions$14,960Total$26,840
Tax Record2023$1,635 ($136 / month)
Home Facts
Baths3Total Finished SqFt2,000 SqFtAbove Grade Finished SqFt2,000 SqFtStories1Lot Size14,810 SqFtStyleMulti-Family Res (5+ Units)Year Built1959ZoningRU-1CountySHELBYAPN051-014- - -00047Fireplace TypeHas Fireplace

Schools near 374 North Dunlap Street

This home is within Shelby County Schools.
Rating
School
Type
Grades
Distance
Public - PK to 5
Charter - 6 to 8
Public - 9 to 12
Public - PK to 5
Rating
School
Distance
Bruce Elementary School
PublicPK to 5

Humes Preparatory Academy Middle School
Charter6 to 8

Manassas High School
Public9 to 12

Carnes Elementary School
PublicPK to 5

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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374 North Dunlap Street is a multi-family home for sale in Memphis, TN 38105. This property was listed for sale on October 29, 2024 by Prime Real Estate Group, it's currently listed at $535,000. It has been on the market for a total of 3 days and was last sold on October 1, 2021. This listing's school districts are Shelby County Schools, Achievement School District. Nearby schools include Bruce Elementary School, Humes Preparatory Academy Middle School and Manassas High School. 374 North Dunlap Street is a 0-bed, 0-bath, multi-family home built in 1959.

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 Prime Real Estate Group