THE PROPERTY1 4 9 O M O N R O E A P A R T M E N T S

M E M P H I S, T E N N E S S E E

PROPERTY INFORMATION

Address:

Unit Mix:

Year Constructed:

Average Rent:

Property Occupancy:

Purchase Price:

1490 Monroe, Memphis TN 38104

16 - 1BR/1BA

1964

$850/mo

90%

$2,000,000

- New laundry room- New roof (2019)- Exterior paint- All new exterior doors- New parking lot- New cedar fence- All new exterior lights- All units have been renovated with

tile flooring and stainless steel appliances

- Half of the HVAC units and furnaces are brand new

RENOVATIONS COMPLETED

WHY THIS PROPERTY

Hospital

G R E A T L O C A T I O N

Around the corner from a new Starbucks

Blocks away from Medical District

Close to new apartment buildings

Close to hipster hotspots

Starbucks

New Apts

Hipster Hotspots

THE PROPERTY

THE PROPERTY

THE PROPERTY

THE PROPERTY

THE PROPERTY

THE PROPERTY

PRO FORMA

PURCHASE PRICE $2,000,000

RENT $165,000

TAXES $20,000

INSURANCE $7,500

PROPERTY MANAGEMENT $11,500

UTILITIES $4,800

NET OPERATING INCOME $121,200

CAP RATE 6%

For additional information please

contact:

Antoine Martel

antoine@martelturnkey.com

www.calendly.com/martelantoine

www.martelturnkey.com

CONTACT US