Description
Great investment opportunity! Gated Delmar-Lema Village with 23 units near the Medical District. 7% pro forma cap rate. 1 bed/1 bath units with extensive capital improvements: LVP flooring, interior paint, new plumbing, stainless steel appliances, central heat and A/C, and more. All exteriors have fresh paint and newer roofing. Entire perimeter is fenced with solar powered double entry security gate installed at the entrance. Just blocks from the VA Medical Center, LeBonheur Children's Hospital, Regional One, and close to downtown Memphis. Surrounding area is currently being revitalized with many new & upcoming developments. Seller financing will be considered.
Details
| MLS # | 10218077 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1912 |
| Days On Site | 154 |
| Listing Provided By | Myers Cobb Realtors, LLC | Dominey Shaw |
Features
| Units | 23 |
|---|---|
| Building(s) | 17 |
Exterior
| Roof | Composition |
|---|---|
| Construction | Wood/Composition |
| Foundation | Conventional/Crawl Space |
Parking
| Parking Facility | Asphalt/Blacktop |
|---|
Area Information
| State | TN |
|---|---|
| County | Shelby |
| City | Memphis |
| Zip Code | 38105 |
| Area | Harbor Town | Downtown |
| Subarea | 741E |
| Community Name | HARVEY |
| Listing VS Median (in HARVEY) | |
Price: $1,150,000 low | high Med: $0 On site: 154 low | high Med: | |
Market Activity 38105
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Learn More About This Property
| State | TN |
|---|---|
| County | Shelby |
| City | Memphis |
| Zip Code | 38105 |
| Area | Harbor Town | Downtown |
| Subarea | 741E |
| Community Name | HARVEY |
| Listing VS Median (in HARVEY) | |
Price: $1,150,000 low | high Med: $0 On site: 154 low | high Med: | |
Nearby Listings (Within 1/10 mile)
Price: $862K - $1.437M
sqft: 0 - 0
Listing Updated: August 13, 2026 at 6:06:36 PM PDT