3-Asset Class A Multifamily Portfolio 3 Multifamily Properties Offered at $10,875,000 in Memphis, TN
EXECUTIVE SUMMARY
*Principals Only*
3-Asset Class A- Multifamily Portfolio in Downtown Memphis
121 Units
Operational Value-Add Play + Immediate Scale
Offered at 60% of Replacement Value
Occupancy Nearly Stabilized & Rising at 83%+
345/347 S. Front and 60 S Main Street, Memphis, TN 38103
Portfolio Price
$10,875,000 or $117,000/Unit ONLY!
Estimated cost if built new today, $200,000 per unit.
AVAILABLE AS PORTFOLIO OR INDIVIDUALLY, including:
Printer’s Alley & Annex Lofts [51 Units] $5,750,000 - $112,000/Unit ?[Sold Together]
The Washburn [42 Units] $5,125,000 - $122,000/Unit
Virtual tours for each property can be viewed under the individual property websites.
INVESTMENT HIGHLIGHTS
Attractive Basis - $80,000 per Unit Below Replacement Cost
No Heavy Lifting - Contemporary Loft Residences with Modern Urban Finishes in Well-maintained Condition. Competitively positioned in Market.
Untapped Potential via Operational Improvements, Amenity and Technology Upgrades aimed at Reducing Vacancy
Fantastic Workforce Location – Surrounded By Region’s Largest Employers
Unique Opportunity To Obtain Immediate Scale with 121 Units
Offered Free & Clear of Existing Debt
LOCATION HIGHLIGHTS
Lifestyle Location - Downtown Memphis convenience in a Live Work Play environment convenient to the city’s premier employment anchors.
Battery Belt and AI Tech Hub – Recent advanced manufacturing and high-tech AI projects within 45 minutes of Memphis have eclipsed $13 billion in investment, and are projected to add 9,000 direct jobs to the MSA. These capital investments involve corporate giants including Ford Motor, Musk Companies, Daimler Truck among others.
OFFERING PROCEDURE
Offers may be submitted along with Proof of Funds and a Resume at any point during the marketing process. A deadline for offers may be established at a later date.
3-Asset Class A- Multifamily Portfolio in Downtown Memphis
121 Units
Operational Value-Add Play + Immediate Scale
Offered at 60% of Replacement Value
Occupancy Nearly Stabilized & Rising at 83%+
345/347 S. Front and 60 S Main Street, Memphis, TN 38103
Portfolio Price
$10,875,000 or $117,000/Unit ONLY!
Estimated cost if built new today, $200,000 per unit.
AVAILABLE AS PORTFOLIO OR INDIVIDUALLY, including:
Printer’s Alley & Annex Lofts [51 Units] $5,750,000 - $112,000/Unit ?[Sold Together]
The Washburn [42 Units] $5,125,000 - $122,000/Unit
Virtual tours for each property can be viewed under the individual property websites.
INVESTMENT HIGHLIGHTS
Attractive Basis - $80,000 per Unit Below Replacement Cost
No Heavy Lifting - Contemporary Loft Residences with Modern Urban Finishes in Well-maintained Condition. Competitively positioned in Market.
Untapped Potential via Operational Improvements, Amenity and Technology Upgrades aimed at Reducing Vacancy
Fantastic Workforce Location – Surrounded By Region’s Largest Employers
Unique Opportunity To Obtain Immediate Scale with 121 Units
Offered Free & Clear of Existing Debt
LOCATION HIGHLIGHTS
Lifestyle Location - Downtown Memphis convenience in a Live Work Play environment convenient to the city’s premier employment anchors.
Battery Belt and AI Tech Hub – Recent advanced manufacturing and high-tech AI projects within 45 minutes of Memphis have eclipsed $13 billion in investment, and are projected to add 9,000 direct jobs to the MSA. These capital investments involve corporate giants including Ford Motor, Musk Companies, Daimler Truck among others.
OFFERING PROCEDURE
Offers may be submitted along with Proof of Funds and a Resume at any point during the marketing process. A deadline for offers may be established at a later date.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $10,875,000 |
| Price / SF | $110.57 / SF |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 3 |
| Total Building Size | 98,352 SF |
| Total Land Area | 0.25 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
The Washburn
60 S Main St, Memphis, TN 38103 |
Multifamily | 45,144 SF | 1891 | $5,125,000 |
|
Printer's Alley Lofts
347 S Front St, Memphis, TN 38103 |
Multifamily | 24,114 SF | 2015 | $3,248,000 |
|
Annex Lofts
345 S Front St, Memphis, TN 38103 |
Multifamily | 29,094 SF | 2015 | $2,464,000 |
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