Hot Property: Penthouse in the heart of Midtown – The Commercial Appeal

Midtown condos are pretty scarce, however even rarer are luxurious models throughout Poplar from Overton Park and inside a 4-block stroll of Overton Sq.'s eating places and leisure.

A sixth-flooring penthouse has hit the market atop the 36-unit Park Terrace rental constructing at 2195 Poplar.

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This penthouse at Park Terrace condominiums is listed for $329,000. Wochit

(A pending contract to purchase this rental was struck early final week, however such contracts can fall by and the actual property agent remains to be fielding inquiries.) 

That is the midcentury fashionable constructing throughout Poplar from the No. 6 tee field on Overton Golf Course.

Nonetheless undecided? It is the constructing on "stilts," with parking beneath the second flooring.

Penthouse No. three

Penthouse No. three – the door signal states "PH-three'' – is perched atop the southeast nook and is listed for $329,000 by Marx-Bensdorf Realtors and its affiliate dealer Jake Lawhead.

However for budgeting functions, add a $760 month-to-month rental assoication price. Park Terrace residents are assessed 42 cents per sq. foot. Doing the math, Unit 603 is about ,800 sq. toes.

The evaluation covers the constructing's frequent prices like upkeep and facilities together with a swimming pool, health club, parking, storage, social rooms, and so forth. The price additionally covers all the Memphis, Mild, Gasoline & Water division invoice apart from electrical energy.

The rental's asking value covers some extras, too.

"Every little thing is just about executed right here,'' Lawhead mentioned of the two-bed room, two-toilet unit. He means in half that the proprietor spared little expense in upgrading the rental he purchased in 2008.

"It is like dwelling in your personal treehouse''

Nearly each closet, bed room, pantry and laundry room door options opaque glass. The baseboards are marble. The flooring embody heat wooden and glossy terrazzo tile. The grasp toilet has a glass bathe with frameless glass doorways, a bench and each water and steam. The bed room closets and kitchen pantry are stroll-ins. The kitchen cupboards are customized-made. The counter tops are granite.

The bedrooms' blackout-window remedies are imported from China and can stick with the new proprietor. The glass exterior window partitions have Photo voltaic-Tech tint. The customized mattress body will keep, too.

Regardless of all the tremendous finishes, the characteristic attraction is exterior.

At Park Terrace, models on flooring 2-5 have balconies, however the penthouses have terraces.

Wrapping all the method round the exterior partitions of this unit are a glass wall and a terrace of 850 sq. toes. Big, dwelling photographs of the giant oaks exterior are framed for each room besides the laundry.

Even the visitor toilet and the workplace have terrace entry and views.

"It is like dwelling in your personal treehouse,'' Lawhead mentioned as he opened the sliding glass door to the terrace exterior the main bedroom.

He pointed to the giant, lined field subsequent to the patio furnishings and added, "The scorching tub does keep.''

The terrace has its personal upgrades: Dimmable lighting and stereo audio system.

The rental could also be a superb match for the "empty-nester market on the market that now not needs to dwell in the suburbs,'' Lawhead mentioned. "They need to come again to Midtown and Downtown.''

The gated Park Terrace is "lock and depart,'' he mentioned. "Safety isn't any form of subject. They do not should discover a home-sitter for them to journey. Every little thing is on one flooring.''

 Park Terrace is usually occupied by the rental house owners, and the rental affiliation permits solely present house owners to hire out their models, Lawhead mentioned. Any newly offered models will not be allowed to be rented.

The Park Terrace rental affiliation is replenishing its reserve fund after already putting in a brand new roof and new heating and air-conditioning system, and repainting the constructing. The pool is to be resurfaced subsequent spring.

About the dwelling

Location: 2195 Poplar, Unit 603

Particulars: Totally renovated penthouse with luxurious finishes atop southeast nook of Park Terrace constructing. Two bedrooms, two loos, plus workplace/flex room. Main bedroom with steam bathe, walk-in closets.  Lined terrace, totaling 850 sq., wraps round the rental. Park Terrace gives pool, health club, social rooms and space for storing.

Checklist value: $329,000 (Plus $760 month-to-month rental affiliation price that covers most utilities in addition to constructing upkeep)

Contact: Jake Lawhead, affiliate dealer, Marx-Bensdorf Realtors, (901) 848-5352 or jlawhead@m-brealtors.com

 

 

 

 

 

 

 

 

 

 

 

 

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Hot Property: Penthouse in the heart of Midtown - The Commercial Appeal