Graham Manor Apartments
Multifamily | 22 Units | $59,091/unit
Marketing description
1744 N Graham is a 22-unit multifamily property located in the heart of Berclair, one of Memphis’s most active and steadily improving neighborhoods. The property consists of 20 two-bedroom units and 2 one-bedroom units and is currently operating at 95% occupancy, offering a stable, cash-flowing investment.
The seller has completed significant capital improvements, including updated plumbing, new appliances, fresh exterior paint, roofing enhancements, and upgraded window units. These renovations have positioned the asset as a highly functional, low-maintenance property with limited near-term capital needs.
Located just minutes from I-40, Poplar Avenue, and the University of Memphis, the property benefits from strong and consistent rental demand driven by affordability and central access. With the majority of the heavy lifting complete, 1744 N Graham offers investors the opportunity to acquire a stabilized asset with immediate income and remaining rent upside.
Please reach out to Dylan Patel at (901) 826-8712 for further information.
Investment highlights
Stabilized Cash Flow:
Currently 95% occupied, providing immediate, reliable in-place income with minimal vacancy exposure.
Extensively Renovated Asset:
Significant capital improvements completed across unit interiors and major systems, including plumbing, appliances, roofing, exterior upgrades, and more—greatly reducing near-term CapEx needs.
Turnkey Investment Opportunity:
The heavy lifting has been completed, allowing a new owner to step into a stable, cash-flowing asset without the operational intensity of a full value-add project.
Remaining Rent Upside:
Opportunity to increase rents through continued optimization and alignment with market rates, offering future NOI growth on top of strong current performance.
Efficient & Proven Unit Mix:
(20) two-bedroom units and (2) one-bedroom units that consistently appeal to the local workforce housing demographic.
Attractive Submarket Location:
Positioned in Berclair, a centrally located Memphis submarket with steady rental demand and convenient access to I-40, Poplar Avenue, and the University of Memphis.
Limited Ongoing Capital Needs:
With major renovations already completed, future ownership can focus on operational efficiency and income growth rather than deferred maintenance
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