For sale

$5,000,000

28U Drake Ave, Ripley, TN 38063

--beds

--baths

--sqft

$33,338/mo

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Multi Family

Built in 1979

-- sqft lot

$-- Zestimate^®

$--/sqft

$-- HOA

What's special

Townhomes have newer roofs

Huge investment portfolio consisting of 61 rentable units in Ripley: 36 townhomes consisting of 2 bedrooms & 1.5 baths. 16 apartments consisting of 2 bedrooms, 1 bath each. 9 single family houses consisting of 3 bedrooms & 2 baths. All have termite contracts in place and monthly maintenance sprays. Townhomes have newer roofs & HVAC units @ 2 years old. All are well maintained by owner. There are 5 townhomes on the rear of the Jefferson St property that are vacant and in need of full renovations, no value is attributed to these units. More information available for serious, qualified or cash investors.

23 hours

27

2

Facts & features

Interior

Heating

Central, Electric

Cooling

Central Air

Appliances

Included: Refrigerator, Range/Oven (Freestanding), Exhaust Fan/Vent Hood, Electric Water Heater
Laundry: Connections

Features

Paneled
Flooring: Tile, Partial Carpet, Wood Laminate Floors
Basement: Crawl Space,Storage Space

Property

Parking

Parking features: Asphalt/Blacktop, Concrete, More Than 1 Per Unit

Features

Exterior features: Curbs/Gutters, Sidewalks

Details

Parcel number: 094D B 007.00 & 010.00 095H A 038.00, 039.01 094L E 023.00, 013.00, 014.00 119 038.00, 015.14
Zoning: Co/Res

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Brick Veneer, Wood/Composition, Vinyl Siding, Dry Wall
Foundation: Slab
Roof: Composition

Condition

Year built: 1979

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Features: Dumpster
Security: Smoke Detector(s), Fire Escape

Location

Region: Ripley

Financial & listing details

Annual tax amount: $41,970
Date on market: 8/3/2026
Cumulative days on market: 20 days
Listing terms: Conventional
Inclusions: No Furnishings, No Equipment, Some Appliances
Lease term: 12 Months,Other (Call LA)
Total actual rent: 400000
Tenant pays: All Utilities, Trash Collection, Cable TV, Security Deposit

Estimated market value

Not available

Estimated sales range

Not available

$1,014/mo

Price history

Date	Event	Price
8/3/2026	Listed for sale	$5,000,000
Source: MAAR #10220264 Report a problem
5/12/2026	Listing removed	$5,000,000
Source: MAAR #10220264 Report a problem
4/27/2026	Listed for sale	$5,000,000
Source: MAAR #10220264 Report a problem

Public tax history

Tax history is unavailable.

Monthly payment

Est. payment

Payment breakdown

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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included

All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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