1103 S Cooper St
Memphis, TN 38114
Cooper Young Apartments · Multifamily Property For Sale
·
80 Units
Investment Highlights
- Apartment community near thriving Cooper Young Entertainment District
Property Facts
| No. Units | 80 | Building Size | 84,040 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1965 |
| Building Class | C | Parking Ratio | 1.9/1,000 SF |
| Lot Size | 3.23 AC | ||
| Zoning | res | ||
| No. Units | 80 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.23 AC |
| Building Size | 84,040 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.9/1,000 SF |
| Zoning | res |
Amenities
Unit Amenities
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Playground
- Gated
- Online Services
- Walk-Up
- Smoke Detector
About 1103 S COOPER ST , MEMPHIS, TN 38114
Cooper Young Apartments 1103 South Cooper Street, Memphis, Tennessee 80 Units Built 1965 Midtown location on fringe of bustling Cooper Young area, a hip lifestyle district that is drawing capital investment into dining, retail and entertainment Nearby jobs: 8 minutes to Midtown/Medical District (serving 20,000 employees and 13,000+ students) and 10 minutes to Memphis Int’l Airport (83,000 employees and $26.8 billion in annual economic impact) Updated affordable housing option - due to rising rents increasing numbers of Midtown employees are seeking updated affordable housing in surrounding neighborhoods where renovated properties exceed 95% occupancy at the higher rent levels Proven value-add upside - current ownership has executed a repositioning plan on 20% of units with $150+ rental increases, offering investors market-tested rental upside through continued light cosmetic improvements 98% occupancy List Price $3,640,000 Price/Unit $45,500 Proforma NOI $280,000 Cap Rate 7.70%
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | 700 |
| 2+1 | 62 | - | 900 |
| 3+1 | 8 | - | 1,100 |
Property Taxes
| Parcel Number | 03-1111-0-0006 | Improvements Assessment | $1,366,640 |
| Land Assessment | $116,800 | Total Assessment | $1,483,440 |
Property Taxes
