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3298 and 3300 Lamphier, Memphis, TN 38122. Eight streets north of Summer at Holmes. Handy Map # 31A or Handy Map # 30D.
Built as a brick duplex with separate utility meters. Orignally there was a neighborhood store on the side lot. The store is gone but the sale includes the vacant side lot. Selling for family health reasons. Each side has two bedrooms, one bath. The bath is ceramic tile with shower and tub. Living room, Eat-in-kitchen with Washer and Dryer Connections, Hardwood floors, Central Heat. Gas Heat and Gas water heater for lower utilites. DO NOT knock on door or interupt tenants. One tenant has been there for 12 YEARS. The combined monthly gross rents are $1000 per month. The cap rate is higher than 20. This is a great investment. Use it for a 1031 trade-exchange. Also suitable for the owner living on one side and renting the other side.
Call Grayson for information ( 901 ) 755-1122.
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