Memphis Cooper Young Gem- Fix & Flip Opportunity with Huge Upside

[Haim Mamane Palman]

Selling my interest/contract for the property on: 2001 Nelson Ave. Memphis, TN 38104

Off Market- In the heart of Super Hot Cooper Young neighborhood. This is not a Junker! Property is dated and needs some upgrades if you want to attract a retail buyer to pay top price. It has a huge upside potential as there are Sold, Pending and Active listing in the 290-359k price range (see 2017 Nelson Ave. currently pending with Listing Price of 315k which is a block away from the subject property).

I'm not a contractor but based on feedback from few contractors, Retail Grade Rehab Estimate would be in the 55-65k range. You may have a crew that can do it at a lower price.

Tenants will be out upon closing.

After Repair Value: 290-315k

Comparable Sales:

Sold

- 1920 Young Ave, Memphis, TN 38104 3 beds 4 baths 2,200 sqft $300,000 Sold on 03/01/17

- 1021 Meda St, Memphis, TN 38104 4 beds 3 baths 2,343 sqft $285,000 Sold on 03/01/17

- 764 Velma St, Memphis, TN 38104 3 beds 3 baths 2,396 sqft $292,500 Sold on 04/05/17

- 1987 Elzey Ave, Memphis, TN 38104 3 beds 3 baths $309,500 Sold on 12/02/16

Pending

- 2017 Nelson Ave Memphis, TN 38104 3 beds 3 baths 2,900 sq ft Listed at $315,000

Active

- 1996 Elzey Ave Memphis, TN 38104 4 beds 2 full, 1 half baths 2,300 sq ft Listed at $349,000

- 883 S Cox St Memphis, TN 38104 3 beds 2 full, 1 half baths 2,300 sq ft Listed $359,000

- 935 Philadelphia St Memphis, TN 38104 3 beds 2 full, 1 half baths 2,300 sq ft listed $319,900

Access: DO NOT DISTURB TENANTS. Please complete the form here if you to access the property: https://podio.com/webforms/17866886/1200457 or call (901) 602-7874

*All properties Subject to errors, omissions, deletions, additions, cancellation. All properties sold as is, where is with absolutely no representations written or oral. Buyer is to do their own independent due diligence. Property will not be considered under contract until signed contract and deposit received with all contingencies removed. Sales price is net to seller.