28 U Drake Ave, Ripley, TN 38063
Est: $27,641/moGet pre-approved

Description

Huge investment portfolio consisting of 61 rentable units in Ripley: 36 townhomes consisting of 2 bedrooms & 1.5 baths. 16 apartments consisting of 2 bedrooms, 1 bath each. 9 single family houses consisting of 3 bedrooms & 2 baths. All have termite contracts in place and monthly maintenance sprays. Townhomes have newer roofs & HVAC units @ 2 years old. All are well maintained by owner. There are 5 townhomes on the rear of the Jefferson St property that are vacant and in need of full renovations,...Huge investment portfolio consisting of 61 rentable units in Ripley: 36 townhomes consisting of 2 bedrooms & 1.5 baths. 16 apartments consisting of 2 bedrooms, 1 bath each. 9 single family houses consisting of 3 bedrooms & 2 baths. All have termite contracts in place and monthly maintenance sprays. Townhomes have newer roofs & HVAC units @ 2 years old. All are well maintained by owner. There are 5 townhomes on the rear of the Jefferson St property that are vacant and in need of full renovations, no value is attributed to these units. More information available for serious, qualified or cash investors.
LISTING UPDATED: 08/25/2026 10:44 AM

  1. Listed by Pamela Worley • Unique Properties

Property Details for 28 U Drake Avenue

Status
MLS #
10220264
Days on Market
41
Taxes
$41,970 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Multi-Family / Townhouse Units
Year Built
1979
Lot Size
-
Area
691
MAAR Subdivision Name
NA
Legal Subdivision Name
NA

Location

Listing Courtesy of Unique Properties
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Building Information for 28 U Drake Avenue

Stories-Residences61Year Built1979Building Size-Lot Size-

Payment Calculator

$27,641 per month

30 year fixed, 6.55% Interest

Principal and Interest

$24,144

Property Taxes

$3,498

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 28 U Drake Avenue

Summary
Location and General Information
  • Address: 28U DRAKE ST
  • Address Search Number: 28
  • Directions: Properties are located on: Drake St, Fitzhugh, Jefferson St, Durhamville Rd, Ross Rd
  • Geo Match Code: 3
  • Geo Matched Method: 2
  • Geo Quality: 1.00
  • Geo Update Timestamp: 04-27-2026
  • Geo Zoom Level: 15.00
  • MLS Map Num: Lauderdale County
Taxes and HOA Information
  • Hot Water: Electrical, Public Water, Public Sewer
  • LVT Date: 04-27-2026
  • Annual Insurance Expenses: $32,293
Property
Lot Information
  • Lot Size: TBD
  • Parcel ID: 094D B 007.00 & 010.00 095H A 038.00, 039.01 094L E 023.00, 013.00, 014.00 119 038.00, 015.14
  • Zoning: Co/Res
Property and Assessments
  • Amenities: Dumpster
  • Foundation: Slab, Conventional/Crawl Space, Storage Area
  • Percent Occupancy: 95
  • Service Type: Full Service Listing
Interior and Exterior Features
Exterior Features
  • Roof: Composition
Interior Features
  • Appliances / Equipment: Refrigerator, Range/Oven (Freestanding), Exhaust Fan/Vent Hood, Smoke Detector(s)
  • Floors/Ceilings: Tile, Partial Carpet, Wood Laminate Floors, Dry Wall, Paneled, 8 Feet
Multi Family
Multi-Family Information
  • Num of 1 Bedroom Units: 0
  • Num of 2 Bedroom Units: 52
  • Num of 3 Bedroom Units: 9
  • Num of Efficiency Studio Units: 0
  • Num of Buildings: 20
  • Num Other Units: 0
  • Annual Misc Income: $5,750
  • Annual Operating Expenses: $73,000
  • Assumption: No Assumption
  • Average Annual Utilities: $7,300
  • Construction: Brick/Veneer, Wood/Composition, Vinyl Siding
  • Cooling Systems: Central
  • Existing Financing: Clear
  • Gross Potential Annl Rent: $500,000
  • Heating Systems: Central, Electrical
  • Laundry: Connections
  • Miscellaneous Exterior: Curbs/Gutters, Sidewalks, Fire Escape
  • Operating Expenses: Insurance, Some Utilities, Repairs/Maintenance, Pest Control, Taxes, License/Permits, Accounting/Legal, Services, Advertising
  • Parking Facility: Asphalt/Blacktop, Concrete, More Than 1 Per Unit
  • Possession: At Closing
  • Sale Includes: Building and Land, No Furnishings, No Equipment, Some Appliances
  • Source Of Info: Owner, Current Records, Rent Roll
  • Tenant Pays: All Utilities, Trash Collection, Cable TV, Security Deposit
  • Trade Business Name: SN Anthony Apartmnts
  • Type Units: 2 BR - 1 Bath, 2 BR - 1+ Baths, 3 BR - 1+ Baths, Unfurnished

Property History for 28 U Drake Avenue

DateEvent & SourcePriceAppreciation
Aug 25, 2026

Price Change

MAARMLS #10220264

$4,750,000
Aug 3, 2026

Listed (Active)

MAARMLS #10220264

May 11, 2026

Temporarily Off Market

MAARMLS #10220264

DateEvent & SourcePrice
08/25/2026

Price Change

MAARMLS #10220264

$4,750,000
08/03/2026

Listed (Active)

MAARMLS #10220264

05/11/2026

Temporarily Off Market

MAARMLS #10220264

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 28 U Drake Avenue

This home is within Lauderdale County School District.
Rating
School
Type
Grades
Distance
Public - PK to 2
Public - 3 to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Ripley Primary School
PublicPK to 2

Ripley Elementary School
Public3 to 5

Ripley Middle School
Public6 to 8

Ripley High School
Public9 to 12

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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28 U Drake Avenue is a multi-family home for sale in Ripley, TN 38063. This property was listed for sale on April 22, 2026 by Unique Properties, it's currently listed at $4,750,000. This listing's school district is Lauderdale County School District. Nearby schools include Ripley Primary School, Ripley Elementary School and Ripley Middle School. 28 U Drake Avenue is a 0-bed, 0-bath multi-family home built in 1979.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Unique Properties

The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Services of MAAR, Reelfoot Regional AOR and Central West Tennessee Association of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than Compass are identified with the MAAR, Reelfoot Regional AOR and Central West Tennessee Association of Realtors logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. All information should be verified by the recipient and none is guaranteed as accurate by MAAR, Reelfoot Regional AOR and Central West Tennessee Association of Realtors. Listing information Copyright© 2026 MLS of MAAR, Reelfoot Regional AOR and Central West Tennessee Association of Realtors, Inc. All Rights Reserved.