966 Leon Place

Memphis, TN 38107

$286,000
Last Sold Price
—
Beds
3,456 Sq. Ft.
$83 / Sq. Ft.
3,456
Sq. Ft.
$83
per Sq. Ft.

Description

Great opportunity for investors! This is a five-unit apartment complex just minutes from the heart of Downtown Memphis and midtown. This apartment building is completely leased out. The apartment generates $34,200 gross rent annually. It could easily be generating more once the leases are up. the apartments are renovated on the inside. The new tenant's lease is for $650/mo. The old leases are still at $550/ mo. Please do not disturb tenants.Great opportunity for investors! This is a five-unit apartment complex just minutes from the heart of Downtown Memphis and midtown. This apartment building is completely leased out. The apartment generates $34,200 gross rent annually. It could easily be generating more once the leases are up. the apartments are renovated on the inside. The new tenant's lease is for $650/mo. The old leases are still at $550/ mo. Please do not disturb tenants.
  1. Listed by Jabari Bailey • The Bailey Company Realty, Inc

Property Details for 966 Leon Place

Area
741D
MAAR Subdivision Name
RALSTON
Legal Subdivision Name
RALSTON

Location

Listing Courtesy of The Bailey Company Realty, Inc

Sold By Crye-Leike, Inc., REALTORS

Add your commute
LISTING UPDATED: 02/02/2022 02:50 PM

Property Details for 966 Leon Place

StatusClosed
MLS #10111937
Days on Market10
Taxes$684 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Apartment Building
Year Built1952
Lot Size25.18 AC / 1,096,811 SF
CountyShelby County

Location

Listing Courtesy of The Bailey Company Realty, Inc

Sold By Crye-Leike, Inc., REALTORS

Add your commute

Building Information for 966 Leon Place

Stories1Residences5Year Built1952Building Size-Lot Size25.18 AC / 1,096,811 SF

Payment Calculator

$1,618 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,561

Property Taxes

$57

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 966 Leon Place

Summary
Location and General Information
  • Address: 966 LEON PL
  • Address Search Number: 966
  • Directions: From I-40 West, take exit 1F onto Jackson Ave heading west. From Jackson Ave turn right/north onto Decatur St. Leon Pl is off of Decatur St.
  • Map Coordinate: D
  • MLS Map Num: Harbor Town/Downtown
Taxes and HOA Information
  • Hot Water: Gas
  • LVT Date: 11-02-2021
Property
Lot Information
  • Lot Size: 79.5/78.5 X 175.75
  • Lot Num: 7
  • Parcel ID: 021005 00020
Property and Assessments
  • Foundation: Slab
  • Service Type: Full Service Listing
Interior and Exterior Features
Exterior Features
  • Roof: Composition
Interior Features
  • Floors/Ceilings: Hardwood Throughout
Multi Family
Multi-Family Information
  • Num of 1 Bedroom Units: 2
  • Num of 2 Bedroom Units: 2
  • Num of 3 Bedroom Units: 2
  • Num of Efficiency Studio Units: 0
  • Num of Buildings: 1
  • Num Other Units: 2
  • Assumption: Other (Call LA)
  • Construction: Brick
  • Cooling Systems: 1 Window Unit per Unit
  • Existing Financing: Other (See REMARKS)
  • Gross Potential Annl Rent: $39,000
  • Heating Systems: Gas
  • Laundry: Dryer in Unit, Washer in Unit
  • Operating Expenses: Management, Repairs/Maintenance, Taxes
  • Parking Facility: Concrete, Offsite/Street
  • Possession: At Closing
  • Sale Includes: Building and Land, Some Appliances
  • Source Of Info: Owner
  • Tenant Pays: All Utilities
  • Type Units: 2 BR - 1 Bath

Property History for 966 Leon Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 966 Leon Place

Taxable ValueLand$5,000Additions$36,120Total$41,120
Tax Record2022$2,505 ($209 / month)
Home Facts
Baths1Total Finished SqFt3,456 SqFtAbove Grade Finished SqFt3,456 SqFtStories1Lot Size12,502 SqFtStyleMulti-Family Res (5+ Units)Year Built1952Year Renovated1970ZoningR-6CountySHELBYAPN021-005- - -00020Fireplace TypeHas Fireplace

Schools near 966 Leon Place

This home is within Shelby County Schools.
Rating
School
Type
Grades
Distance
Charter - K to 5
Charter - 6 to 8
Public - 9 to 12
Public - PK to 5
Rating
School
Distance
Memphis Scholars Caldwell-Guthrie
CharterK to 5

Humes Preparatory Academy Middle School
Charter6 to 8

Manassas High School
Public9 to 12

Caldwell-Guthrie Elementary School
PublicPK to 5

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.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The Bailey Company Realty, Inc