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Crane Manor 2295 Candlewyck Cir 178 Unit Apartment Building $4,500,000 ($25,281/Unit) Memphis, TN 38114
Investment Highlights
- Exceptional HIGH value-add opportunity with significant upside through lease-up, modernization, and operational improvements.
Executive Summary
2271 Airways sits in one of Memphis’ highest-traffic commercial areas, surrounded by national retailers, logistics hubs, and steady neighborhood demand. The property is currently 25% occupied, giving incoming investors or owner-operators a rare chance to reposition the asset, stabilize rents, and capture significant upside. With flexible floor plans, strong visibility, and immediate access to major expressways this location is primed for lease-up, redevelopment, or a value-add strategy that turns underutilized space into long-term cash flow.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Refrigerator
- Oven
- Range
Site Amenities
- Property Manager on Site
- Security System
- Gated
- Walking/Biking Trails
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 80 | $750.00 | 550 |
| 2+1.5 | 10 | $1,100 | 1,088 |
| 2+2 | 59 | $937.50 | 795 |
| 2+1 | 29 | $887.50 | 610 - 795 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 06-0092-0-0020C | Improvements Assessment | $1,051,840 |
| Land Assessment | $312,840 | Total Assessment | $1,364,680 |
Property Taxes
Parcel Number
06-0092-0-0020C
Land Assessment
$312,840
Improvements Assessment
$1,051,840
Total Assessment
$1,364,680
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