Highlights

• 28 Upscale Residences

• Classic Midtown Asset

• Built in 1924, renovated in 2020

• Offered at Discount to Seller's Basis I Potential Future Condo Exit

Property Description

Ask Price: $3,200,000 ($114,286/Unit)

NOI: $210,000 I CAP Rate: 6.58%

Occupancy: ~90% range and rising

INVESTMENT HIGHLIGHTS

· Condo-grade interiors with contemporary kitchens and baths

· Prime Midtown location near major employers & lifestyle anchors

· Historic charm with modern appeal driving strong renter demand

· Clear mark-to-market upside

· Low maintenance offering durable cash flows

· Accelerating absorption and no new planned starts

A+ LOCATION

Within 2 miles from Medical District (20,000+ jobs and 10,000 students), 8 miles from White Collar Downtown (89,000+ jobs) and 6 miles from Poplar/I-240 Office Hub (100,000+ White Collar jobs)

Over $14 Billion in capital investment underway in the Medical District, anchored by St Jude's Children's Hospital $12.9 Billion expansion and the newly announced $1.5 Billion Regional One hospital campus

Memphis MSA – The 5th largest Metro in the Southeast and 2nd most populated Metro in Tennessee anchored by a diverse, stable economic base.