📈💼🔑Description:

Welcome to a lucrative investment opportunity in Memphis, Tennessee! This property boasts immense potential for investors seeking a renovation project with promising returns.  

Property Overview:  

Units: 8 Unit

Configuration: 2 bedrooms per unit

Rentable Space: 5,600 sqft

Total sqft: 6,194

Full Appraisal Available apon request 

Financial Snapshot:  

💰 Potential Gross Income: $76,800 annually

💼 Effective Gross Income: $69,120 annually

📊 Operating Expense Ratio: 41%

💵 Net Operating Income: $41,046 annually

📈 Capitalization Rate: 8.00%

🏘️ Stabilized Residential Occupancy: 90.00% Income

Capitalization Approach:

 💼 As Stabilized: $510,000

💼 As Complete: $490,000

Sales Comparison Approach:  

📊 As Stabilized: $500,000

📊 As Complete: $480,000

Renovation Details:  

🔨 Building Exterior Renovation: $18,500

🎨 Exterior Painting: $15,000

📑 Permits and Plans: $5,000

🖌️ Interior Painting: $16,000

🏢 Common Area Renovations: $8,000

🛠️ Appliances: $18,000

🚿 Bathrooms: $15,000

🔧 Plumbing: $15,000

💡 Electrical: $10,000

🌳 Landscaping: $7,000

🏠 Roof: $12,000

🚪 Cabinets & Fixtures: $15,000

🔮 Contingency: $5,500

💰 Total Renovation Budget: $160,000

Contact Information:

For inquiries or to seize this exceptional opportunity, contact:

KELLY ATCHISON at 720-476-8776

Invest wisely in Memphis, Tennessee! Don't miss out on this chance to elevate your investment portfolio. 📈💼🔑