10BR Home in Memphis , TN

About This Property

5-unit furnished short-term rental building in Midtown Memphis near Overton Park. Built 1910, 3,421 sq ft. Unit mix: 1 studio, 2 one-bedrooms, and 2 two-bedrooms (one of the two-bedrooms is in the old attic space and may not meet current code). Available on its own or as a 10-door package with 1173 Vance Ave (Contact for details), also listed on Morby Method terms. TERMS Existing Contact for details second at 4% interest, carried by the previous owner, who is willing to leave it in place for the next buyer. Interest only at Contact for details/month, matures 10/20/2033. The same note can ride with either building or be split across the package, so tell me how you want it structured. Existing first-position financing is paid off at closing. Payoff figures and full loan documentation go to qualified buyers on request, so treat the down payment figure shown above as the structure before that payoff, not the final number to close. PORTFOLIO PERFORMANCE (both buildings, trailing 12 months) - Contact for details gross bookings, all channels - Contact for details in the last 7 months, the first stretch with all 10 units live, a $170k+ annual pace - August 2026: Contact for details - 433 reservations and 1,541 nights sold WHERE THE UPSIDE IS August occupancy came in at 61.6%, so nearly 40% of the calendar is still open. ADR is $69/night against a $95-$123 market benchmark from the manager's own comps. Willett already runs 93-100% occupancy in peak weeks at these low rates, so the demand is proven and pricing plus listing optimization is what's leaving money on the table. An experienced STR team with real revenue management should find meaningful room here. Mid-term is proven too. Regional One is about a mile out, with Methodist University, Le Bonheur and St. Jude about two. Travel nurses pay $1,000-Contact for details a month furnished, so there is a lower-turnover play available on any unit. TURNKEY Fully furnished. Hostaway PMS, PriceLabs dynamic pricing, smart locks, five active booking channels with 17.4% booking direct at zero commission. Cleaning team and vendor relationships convey. Currently third-party managed and fully hands off. Full income summary, 12-month P&L and owner statements available to qualified buyers.

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