741 Neptune St

Memphis, TN 38104 View Map $232,500 Ask a Question
Sold On1/18/2023
Year1956
741 Neptune St Memphis, TN 38104 | MLS 10138229 Photo 1
741 Neptune St Memphis, TN 38104 | MLS 10138229 Map
Buster Carter

Buster Carter

(901) 461-1738

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Gwen Chambers

Gwen Chambers

(901) 484-2556
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Status: Sold
Property Type:Apartment Building
MLS #:10138229
Date Sold:1/18/2023
County:Shelby
Great-looking 4-plex south of Midtown, 2 of 4 units rehabbed to look like the pictures in the listing! Market rent in the area is around $750-795/unit for 1/1s, with one of the units being rented at $795 as proof of concept. That means there's definitely room to grow the income here! Currently, 2 of the 4 units are occupied, with one of the vacants having a lease pending. Current rents are: $512/mo, $795/mo so this is already doing pretty well! No assignable offers

Detailed Maps

Price Change History

Date Old Price New Price Percent Change
1/19/2023$249,900$232,500-7%

Community Information

Address:741 Neptune St, Memphis, TN 38104
Area:South Bluffs/Downtown
County:Shelby
City:Memphis
Subdivision:Turners Neptune St
Zip Code:38104

Architecture

Year Built:1956
Stories:2
Construction: Brick/Veneer
Roof: Composition
Foundation: Slab
Parking: Concrete

Features / Amenities

Floors / Ceilings: Tile, Vinyl Floor
Miscellaneous Exterior: Sidewalks
Heating: Wall Heat
Cooling: 1 Window Unit per Unit
Hot Water: Gas, Public Water, Public Sewer

Property Features

Lot Dimensions:55X105
Lot #: 2
Improved SqFt: 2494
Land SqFt: 5775
Leaseable SqFt: 2494
Directions:Going W on Lamar Ave., continue onto E.H. Crump Blvd. Take a left onto Dudley St., then a right onto Central Ave. Take a left onto Neptune St. and the building will be on the right!

Tax and Financial Info

Annual City Tax: $709
Annual County Tax: $901
Actual Annual Rent: $22,944
Gross Potential Annual Rent: $38,160
Tenant Pays: Some Utilities
Operating Expense Include: Management, Insurance, Some Utilities, Repairs/Maintenance

Schools

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Listing Information Last Updated 1/27/2023
Listing provided courtesy of Memphis Metro Realty.
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