7 duplex package in Memphis, TN

5 Replies

Price $283,000
Location Memphis , Memphis, TN, 38108
Property Details

Unit: 1

  • Current Rent: $6,080
  • Occupied: Yes
  • Bedrooms: 2
  • Bathrooms: 1.0
  • Square Footage: 1200

Unit: 2

  • Current Rent: $0
  • Occupied: Yes
  • Bedrooms: 2
  • Bathrooms: 1.0
  • Square Footage: 1200

Lot Size: 0


2587 Snowden / 730 Columbia Duplex

Rock solid brick duplex on the corner of Snowden and Columbia in Memphis TN.
The apartment addresses are 2587 Snowden and 730 Columbia.
Low maintenance brick and vinyl siding exterior, and a NEW ROOF was installed in July 2015.
Each apartment has 2 Bedrooms, 1 Bath, new paint, refinished hardwood floors, and VCT flooring in the kitchens and bath.

Fully rehabbed and rent ready.

730 Columbia is leased at $475 per month. New 1 year lease began September 2015.

2587 Snowden deposit taken. New tenant lined up for Nov 1st paying $475 on a 1 year lease.


Gross monthly rents $950
Gross annual rents $11,400

Annual Taxes $1,113


Price $45,000

Additional photos available



2422-2424 Zanone (38114)


Brick duplex with 2 bedrooms and 1 bath per side

Brick exterior with vinyl siding

High durability low maintenance VCT flooring

2422

is rent ready. Leasing underway at $395

2424 tenant moving out in November.

CrestCore Realty is managing

Gross monthly rents $790
Gross annual rents $9480

Annual taxes $1143.74

Price $39,000



878-880 N Third St. (38107)

Brick duplex with 2 bedrooms and 1 bath per side

Brick exterior with vinyl siding

High durability low maintenance VCT flooring

880 has long-term 6-year tenant paying $350

878 is rent ready. Leasing underway at $450

CrestCore Realty is managing

Gross monthly rents $800 (Pro forma $900)
Gross annual rents $9600 (Pro forma $10,800)

Annual taxes $742.81

Price $45,000


2932 Southwall St. (38114)

2 bed 1 Bath brick home with vinyl siding on eaves and gables

High durability low maintenance VCT flooring inside

Central Heat and Air

Rented for $500 per month

Currently Rented under market, should rent for $550-595

Gross Annual Rent $6,000

Low Annual Property Taxes $473.97

Price $30,000

Additional photos availalbe

1468-1470 Maplewood (38108)

Brick duplex with 2 bedrooms and 1 bath per side

Brick exterior with vinyl siding

BRAND NEW single layer roof

High durability low maintenance VCT flooring

1468 tenant signed a new 1 year lease this summer paying $475 per month

1470 security deposit taken. New tenant on 11/1/15 paying $475 per month.

CrestCore Realty is managing

Gross monthly rent $925

Gross annual rent $11,100

Annual taxes $801.86

Price $45,000

Additional photos available


278-280 E. Burdock (38106)

Renovated brick duplex with 1 bedroom and 1 bath per side

Brick exterior with vinyl siding

Recently replaced single layer roof

New paint, blinds, shutters, lighting, etc.

High durability low maintenance VCT and hardwood flooring

278 is rented for $395 per month. New 1 year lease July 2015

280 is rented for $395 per month. N

ew 1 year lease Oct 1 2015

CrestCore Realty is managing

Gross monthly rent $790

Gross annual rent $9,480

Annual taxes $730.38

Price $39,500


Additional photos availalbe

2343-2345 Chelsea (38108)

Renovated brick duplex with 2 bedrooms and 1 bath per side

Brick exterior with vinyl siding

Recently replaced single layer roof

New front windows, paint, blinds, shutters, lighting, etc.

High durability low maintenance VCT flooring

2343 is rented for $350 per month to a 50 year tenant. Not a typo. 50 years!

2345 is rented for $450 per month.

CrestCore Realty is managing

Gross monthly rent $800 (Pro forma $900)

Gross annual rent $9,600 (Pro forma $10,800)

Annual taxes $941.72

Price $39,500


- No owner financing

- No assignment contracts accepted

- More info available for qualified buyers

901investor.com 

thanks for the headers up. I'll check it out

I didnt know that CrestCore would manage something in a high war zone area? 

@Curt Davis ,

Great question!

We are in several challenging parts of town for various reasons.  Some of the reasons are practical and some are altruistic (and some might be viewed as illogical).

In this particular case, we manage multiple units for an owner, with these being the hardest properties.  But, overall, it works for us because of our relationship with him and because of other properties in those areas that we manage for similar reasons.

I know it doesn't make sense for everyone, but we're committed to it.

The issue you have though is that when things go horribly wrong which they usually do in cases like this its the management company that gets the bad reputation so I dont understand why you would put your business reputation on the line unless you guys have a track record of managing them like they are in good areas?  Unless the owner has a ton of homes managed with you, I would turn them away.  Too much work with too much risk. 

Good luck!

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