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.
- Listed by Jessica Sewell • Prime Real Estate Group
Property Details for 374 North Dunlap Street
Area
741E
MAAR Subdivision NameLane
Legal Subdivision NameLane
LISTING UPDATED: 10/29/2024 11:40 PM
Property Details for 374 North Dunlap Street
| Status | Active |
|---|---|
| MLS # | 10184186 |
| Days on Market | 24 |
| Taxes | $1,792 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family / Apartment Building |
| Year Built | 1959 |
| Lot Size | 0.34 AC / 14,810 SF |
| County | Shelby 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
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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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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Listing Courtesy of Prime Real Estate Group