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34244195
34244338

2 Locations For Sale

SW
TN 217464, AR PB00045345
Woodyard Realty Corporation
Listed by Woodyard Realty Corporation
$16,500,000
11 days on market
Updated 11 days ago
Opportunity zone

Rare East Memphis Growth Multifamily Portfolio

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 221,094
Units 146
Price per SqFt $75
Year Built 1962

Sold ONLY as a porfolio

Marketing description

The combination of these locations and spacious apartments spell

opportunity to maximize the rents. The average rents are well below

the current market rents because the residents are not moving out as

some, per the manager, have been there 10-15 years!

Modest improvements like painted cabinets with new modern pull fixtures,

counter tops and kitchen backsplashes and vanity updates as units

turnover will help to obtain the market rents. Most units have hard

surface flooring and nice walk-in closets.

Located in two of Memphis' sought-after areas - High Point (High Point)

and White Station(Mendenhall Gardens). Residents move to these areas

to get the best public schools in the city and both are just half a mile or so

from the Green Line and conveniently located near the University of Memphis

and both the east Memphis business center and all the benefits that

come with Midtown Memphis!

Community Features: controlled access at Mendenhall Gardens,

laundry facilities, resort-style pool, minutes from bus stop!

Investment highlights

See our listing websites for more details

MENDENHALL GARDENS

HIGH POINT APARTMENTS

Listing Contacts

SW
TN 217464, AR PB00045345
Woodyard Realty Corporation
Listed by Woodyard Realty Corporation

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