325 Greenlaw Avenue - AGGRESSIVE PRICE REDUCTION!
14-Unit Downtown Apartment Complex Steps from St. Jude | 13 of 14 Units Already Occupied
Marketing description
Prime Downtown Memphis Multifamily Opportunity | 14-Unit Value-Add Asset
Maximize your portfolio's potential with this exceptional 14-unit garden-style apartment complex perfectly positioned in a high-growth downtown Memphis corridor. Located just steps from the world-renowned St. Jude Children's Hospital, this property benefits from a virtually endless pool of strong rental demand. Comprising entirely of highly desirable and spacious 2-bedroom, 1-bathroom layouts, the asset provides the ideal footprint for long-term tenant stability and minimal turnover.
This property eliminates the headaches of a heavy lift by offering immediate, robust cash flow on day one with 13 of the 14 units currently occupied. The heavy lifting on capital expenditures has already been done; several hundred thousand dollars have recently been injected into the property, including a brand-new roof, five fully renovated turnkey units, and a secure, new 6-foot iron security fence and gate.
Positioned directly in the path of progress—surrounded by fresh neighborhood developments and new retail like Chick-fil-A—this asset offers a flawless blend of immediate yield and clear upside. Investors can systematically upgrade the remaining classic units to match the proven rental premiums of the renovated spaces, maximizing the property's Cap Rate and overall valuation.
Investor Note: Current rent roll and T12 financial packages are available for qualified buyers. Contact the listing agent today to schedule a private tour and review the underwriting.
Investment highlights
$735,000 Assumable first position! 14 Unit complex in the heart of the medical district is a great addition to any buyers portfolio! 13/14 units are currently occupied bringing in $11,431/Month. All units are 2BR/1BA's. Over $250,000 of upgrades have been put into the complex over the last three years. Notably, a brand new roof 2 years ago and additional exterior & interior rehabs. Value-add potential exists because some rents are currently below market, rent roll of $15,500+/month once all units are renovated. Fantastic location on the corner of Greenlaw & 7th St. Minutes from downtown St. Jude Hospital, which is in the process of a 6yr 12.9 BILLION dollar expansion. Located in a high-growth corridor including new retail such as Chick-fil-A, this property is uniquely positioned to attract quality tenants and achieve full market rents. Current rent roll and T12 financials available for qualified buyers. Seller is open to holding a 2nd lien on anything over $1m for qualified offer.
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