1470 Monroe Ave, Memphis, TN, 38104

About This Home

Rare Turn-Key Midtown Triplex- Fully Renovated, Furnished & Income Producing- Great Owner-Occupant Option! Dynamic in that it is also zoned for Mixed-Use if you would like to use for a business. Exceptional opportunity to own a completely updated triplex in a prime Midtown Memphis location. This is currently a 3-unit multifamily property. Approximately 5200 square foot property sitting in the heart of Midtown and right on the corner of the medical district, the property is in a prime location appealing to a wide range of tenants, including short-, mid-, and long-term tenants. Walking distance to several medical colleges and hospitals, minutes from downtown, and in a short drive to all main attractions in Memphis. The property is completely gated with two electric entrances that can hold a minimum of 10 vehicles, providing safety and security for all guests. There are 3 separate units on the property, each with private entrances and designated parking. The property has undergone approximately $200,000 of work over the past 5 years, with a complete rehab of Units 2 and 3 completed in October 2024. A new roof and external repairshave been completed during this time as well. Unit 1: Main House -5 bedroom/2.5 bathroom -3800 square feet -Approximately $100,000 in renovations to the 2nd floor in 2020. -Features include: 2 game rooms, chefs kitchen, 2 living rooms, designated office space, fitness center, working piano, hardwood floors, vaulted ceilings, private entrance, designated parking. Unit 2: Bungalow -1 bedroom/1 bathroom -750 square feet -Approximately $50,000 was invested in a complete rehab of the property in 2024. -Features include: large living room, separate chef’s kitchen with island, large master bedroom with designated office space, private entrance, designated parking. Unit 3: Cottage -2 bedroom/1 bathroom -700 square feet -Approximately $50,000 was invested in a complete rehab of the property in 2024. -Stand-alone cottage at the back of the property.