Log In/Sign Up
Your email has been sent.
Medical Center 1177 Linden 14 Unit Apartment Building $1,200,000 ($85,714/Unit) 7% Cap Rate Memphis, TN 38104
Investment Highlights
- Ideally located in the heart of the Medical District (30,000 white collar jobs)
- Operational value add with significant upside captured by pushing rents and occupancy to market rates
- Cash flowing asset with strong historical occupancy
Executive Summary
Woodyard Realty Corporation is pleased to present the exclusive listing of the Medical Center Apartments located in the heart of the Memphis Medical District.
Medical Center Apartments is 14 one-bedroom floorplans next door to University Methodist Hospital, the 583-bed teaching and flagship hospital of the Methodist Le Bonheur Healthcare system.
Current ownership renovated the interiors, exteriors and installed new roofs in 2022.
Unit interiors boast beautiful hardwood floors, renovated kitchens and bathrooms, central heat and walk-in closets.
Medical Center Apartments is an exceptional opportunity to acquire a cash-flowing asset with substantial operational upside in the supply constrained and sought after Memphis Medical District.
Medical Center Apartments is 14 one-bedroom floorplans next door to University Methodist Hospital, the 583-bed teaching and flagship hospital of the Methodist Le Bonheur Healthcare system.
Current ownership renovated the interiors, exteriors and installed new roofs in 2022.
Unit interiors boast beautiful hardwood floors, renovated kitchens and bathrooms, central heat and walk-in closets.
Medical Center Apartments is an exceptional opportunity to acquire a cash-flowing asset with substantial operational upside in the supply constrained and sought after Memphis Medical District.
Property Facts
| Price | $1,200,000 | Building Class | C |
| Price Per Unit | $85,714 | Lot Size | 0.47 AC |
| Sale Type | Investment | Building Size | 11,200 SF |
| Cap Rate | 7% | Average Occupancy | 90% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1968/2022 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RU-3 | ||
| Price | $1,200,000 |
| Price Per Unit | $85,714 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 11,200 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1968/2022 |
| Opportunity Zone |
Yes |
| Zoning | RU-3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | 510 |
1 1
Walk Score®
Very Walkable (75)
Property Taxes
| Parcel Number | 01-8045-0-0001C | Improvements Assessment | $312,480 |
| Land Assessment | $60,720 | Total Assessment | $373,200 |
Property Taxes
Parcel Number
01-8045-0-0001C
Land Assessment
$60,720
Improvements Assessment
$312,480
Total Assessment
$373,200
1 of 21
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Medical Center | 1177 Linden
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.