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$550,000
$575,000 4.3%
Est. payment /mo
Sold on 08/21/2026
4010 SUMMER AVE Memphis, TN 38122
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Key Details
Sold Price $550,000
Property Type Multi-Family
Sub Type Apartment Building
Listing Status Sold
Purchase Type For Sale
Subdivision Brattain Raymond
MLS Listing ID 10220598
Sold Date 08/21/26
Year Built 1960
Annual Tax Amount $11,269
Property Sub-Type Apartment Building
Property Description
FIRE SALE !! Fully occupied 6-unit multifamily on Summer Ave! PRIME LOCATION! Renovated in 2020, each unit offers 3BR layouts—rare and in high demand, supporting strong tenant retention and consistent income. Major upgrades include new roof, updated plumbing, full electrical rewire, and all HVAC systems and water heaters replaced, delivering a true turnkey, low-maintenance asset. Currently generating approx. $75,000 annually, exceeding the 1% rule with immediate cash flow from day one. Prime location with quick access to Interstate 40 and near Grahamwood Elementary School, increasing tenant demand. Strong rental corridor with excellent accessibility. Ideal for investors seeking stable returns, low overhead, and long-term appreciation. Opportunities like this are increasingly difficult to find in today's market. Don't miss out on this rare investment. Contact me today for additional details or to schedule a private showing.
Location
State TN
County Shelby
Area Kingsbury
Interior
Heating Central
Cooling Central
Flooring Hardwood Throughout, Tile
Laundry Connections
Exterior
Parking Features Asphalt/Blacktop
Roof Type Composition,Shingle/Shake
Building
Story 2
Foundation Slab
Water Electrical, Public Sewer
Others
Acceptable Financing Conventional
Listing Terms Conventional
Listed by Anna Palazola • Crye-Leike, Inc., REALTORS
Bought with Adam M Thornton • Marathon REALTORS, LLC
Bought with Adam M Thornton • Marathon REALTORS, LLC
NEARBY SCHOOL & BUSINESS
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