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Ivy Chase Apartments 3130 S Mendenhall Rd 171 Unit Apartment Building $10,000,000 ($58,480/Unit) Memphis, TN 38115
Investment Highlights
- Value Add Opportunity
Executive Summary
The Ivy Chase Apartments offers a value-added opportunity to investors through improved operations and stabilization. The property is LITCH Asset with its townhouse and flat-styled apartments are 90% occupied. Due to its last renovations taking place in 2006/2007, its potential is tremendous.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $10,000,000 | Building Class | C |
| Price Per Unit | $58,480 | Lot Size | 5.52 AC |
| Sale Type | Investment | Building Size | 135,320 SF |
| Sale Condition | Deferred Maintenance | Average Occupancy | 90% |
| No. Units | 171 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1973/2007 |
| Property Subtype | Apartment | Parking Ratio | 3.31/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | C-L - Commercial | ||
| Price | $10,000,000 |
| Price Per Unit | $58,480 |
| Sale Type | Investment |
| Sale Condition | Deferred Maintenance |
| No. Units | 171 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.52 AC |
| Building Size | 135,320 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built/Renovated | 1973/2007 |
| Parking Ratio | 3.31/1,000 SF |
| Zoning | C-L - Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Refrigerator
- Oven
- Carpet
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 45 | - | 455 - 728 |
| 2+1 | 45 | - | 939 |
| 2+1.5 | 43 | - | 939 |
| 3+2 | 38 | - | 1,346 |
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Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 07-4074-0-0028 | Improvements Assessment | $920,520 |
| Land Assessment | $216,400 | Total Assessment | $1,136,920 |
Property Taxes
Parcel Number
07-4074-0-0028
Land Assessment
$216,400
Improvements Assessment
$920,520
Total Assessment
$1,136,920
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Ivy Chase Apartments | 3130 S Mendenhall Rd
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