Thoughts about the zipcode and Location in Memphis from Veteran Investors

[Orhi Tahi]

Hey All,

What are your thoughts for 38119 zipcode ? Especially closer to Green Lodge Townhouse area.

Working on a deal and want to get your thoughts ?

Orhi

[Chris Clothier]

Quote from @Orhi Tahi:

Hey All,

What are your thoughts for 38119 zipcode ? Especially closer to Green Lodge Townhouse area.

Working on a deal and want to get your thoughts ?

Orhi

 As a general rule, 38119 is not a bad zip code.  Areas however do matter.  I used to live in Green Lodge Townhomes and my brother owned one.  I am not sure it was named that back in the mid 90's when I was there.  Today, the townhomes are rough.  It has been a bit of time since I last drove through there, but it is right on the edge of an area trying  hard to make a comeback.  There is a strip center with some new construction right there, but no real long-term services yet.  A grocery store and a few restaurants nearby and easy access to the highway.  You are 1 mile form the new Top Golf and the apartment complex directly to the south is nice for that area and new ownership has cleaned up the appearance.

All in all, if you are talking the townhomes specifically, they are old and run down.  My worry would be about the appearance of the rest of the area as opposed to my unit.  Depending on numbers it could be great, but just know there are challenges right there.  If you are talking multiple units, possibly the whole complex, then you have a chance to flip the area and provide something great.  Good luck either way.