NOT LISTED FOR SALE

5225 Summer Ave Memphis, TN 38122

Raleigh Neighborhood

Estimated Value: $6,933,651

1 Bed
-- Bath
-- Sq Ft
3.41 Acres

About This Home

Elite Living Residence offers 192 studio apartments, ideally situated just a 10-minute drive from Shelby Farms Greenline. Each studio features a kitchenette equipped with a sink, cooktop, microwave, and refrigerator. Select units offer marble flooring and private bathrooms, complete with a tub and separate toilet. Elite Living Residence is located in Shelby County, within the 38122 Zip Code. It falls within the Richland Elementary School, White Station Middle, and White Station High School attendance zones. For inquiries, contact the leasing office

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 8, 2025
Sold by
Memphis Thirty Six Llc
Bought by
Hotel Elite Memphis Llc
Current Estimated Value
$6,933,651

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,500,000
Outstanding Balance
$4,500,000
Interest Rate
6.85%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 27, 2023
Sold by
Hotel Elite Memphis Llc
Bought by
State Of Tennessee

Purchase Details

Closed on
Jan 31, 2023
Sold by
Memphis Thirty Six Llc
Bought by
Hotel Elite Memphis Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,600,000
Interest Rate
6.48%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 9, 2020
Sold by
Tejoo Inc
Bought by
Memphis Thirty Six Llc

Purchase Details

Closed on
Mar 10, 2010
Sold by
190 Orange Avenue Inc
Bought by
Tejoo Inc

Purchase Details

Closed on
Jun 4, 2007
Sold by
Om Shai Inc
Bought by
190 Orange Avenue Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,550,000
Interest Rate
6.16%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 9, 2003
Sold by
Banktennessee
Bought by
Om Shai Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,232,500
Interest Rate
6.32%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Mar 20, 2003
Sold by
Hampco Inc
Bought by
Banktennessee

Range of Values:

Collateral Analytics

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ICE

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First American

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Quantarium

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
State Of Tennessee $32,300 None Listed On Document
Hotel Elite Memphis Llc $6,500,000 Iconic Title Agency Llc
Memphis Thirty Six Llc $1,290,000 Closetrak
Tejoo Inc $600,000 Chicago Title Insurance Co
190 Orange Avenue Inc $1,850,000 None Available
Om Shai Inc $1,450,000 --
Banktennessee $1,000,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hotel Elite Memphis Llc $4,500,000
Previous Owner Hotel Elite Memphis Llc $3,600,000
Previous Owner 190 Orange Avenue Inc $1,550,000
Previous Owner Om Shai Inc $1,232,500
Previous Owner Hampco Inc $594,593
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/02/2024 05/02/24 Price Changed $800 +167.6% --
04/18/2024 04/18/24 Price Changed $299 -62.6% --
03/30/2024 03/30/24 For Rent $800 -- --

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $17,184 $513,640 $316,280 $197,360
2023 $31,501 $517,120 $319,760 $197,360
2022 $31,501 $517,120 $319,760 $197,360
2021 $31,870 $517,120 $319,760 $197,360
2020 $21,738 $300,000 $150,000 $150,000
2019 $15,104 $472,600 $319,760 $152,840
2018 $15,104 $472,600 $319,760 $152,840
2017 $15,461 $472,600 $319,760 $152,840
2016 $13,157 $301,080 $0 $0
2014 $14,619 $334,520 $0 $0
Source: Public Records

Map

Tennessee Shelby County Memphis 38122 Raleigh

5225 Summer Ave, Memphis, TN

Homes for Sale in Memphis, TN

This home is located at 5225 Summer Ave, Memphis, TN 38122 and is currently priced at $6,933,651. 5225 Summer Ave is a home located in Shelby County with nearby schools including Richland Elementary School, White Station Middle, and White Station High.

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