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4015 Summer Ave 30 Unit Apartment Building $1,525,000 ($50,833/Unit) Memphis, TN 38122
EXECUTIVE SUMMARY
SUMMERWOOD APARTMENTS
4015 Summer Avenue | East Memphis, TN 38122
Built: 1959
Occupancy: 83%
Asking Price: $1,525,000 ($50,833/unit)
INVESTMENT HIGHLIGHTS
HIDDEN GEM WITH VALUE-ADD UPSIDE
Near 10 year hold with minimal rent escalation—a compelling opportunity for value enhancement and income growth via gradual mark-to-market approach or light cosmetic upgrades
1959 construction with washer hookups in kitchen
All-brick exteriors
Robust historic operations with rental upside
RARE EAST MEMPHIS OPPORTUNITY
Sought-after East Memphis location offering strong demographics and tenant appeal
Prime access to the I-240/Poplar White-Collar employment hub, home to 110,000+ jobs
Just 5 miles from Baptist Memorial Hospital campus, the flagship facility of Baptist's 21,000-employee regional health system, which is surrounded by a dense cluster of medical clinics and health care providers
MEMPHIS ECONOMIC BOOM – The Digital Delta
Memphis' Core Industries of Logistics and Health Care are getting a boost from two Emerging Sectors:
Automotive + EV Manufacturing are contributing over $10+ Billion in regional investment (Ford Motor, Daimler Paccar, Blue River Steel)
Artificial Intelligence: xAI’s $12 Billion expansion into Memphis—backed by $20–$50 Billion in projected investment —places the city at the forefront of AI innovation. Just in May 2025, Google announced plans to expand its AI capabilities with a $10 Billion data center in West Memphis.
Over 15,000+ new jobs have already been announced across the City's core and emerging industry sectors. Suppliers who follow suit as tech companies expand their AI systems are expected to bring thousands of additional tech jobs, accelerating economic growth and creating demand for housing and a spike in rents.
In 2024, the Memphis MSA eclipsed $100 Billion for the first time in Gross Regional Product. Newly dubbed "The Digital Delta", Memphis is emerging as a strong market for multifamily investment.
4015 Summer Avenue | East Memphis, TN 38122
Built: 1959
Occupancy: 83%
Asking Price: $1,525,000 ($50,833/unit)
INVESTMENT HIGHLIGHTS
HIDDEN GEM WITH VALUE-ADD UPSIDE
Near 10 year hold with minimal rent escalation—a compelling opportunity for value enhancement and income growth via gradual mark-to-market approach or light cosmetic upgrades
1959 construction with washer hookups in kitchen
All-brick exteriors
Robust historic operations with rental upside
RARE EAST MEMPHIS OPPORTUNITY
Sought-after East Memphis location offering strong demographics and tenant appeal
Prime access to the I-240/Poplar White-Collar employment hub, home to 110,000+ jobs
Just 5 miles from Baptist Memorial Hospital campus, the flagship facility of Baptist's 21,000-employee regional health system, which is surrounded by a dense cluster of medical clinics and health care providers
MEMPHIS ECONOMIC BOOM – The Digital Delta
Memphis' Core Industries of Logistics and Health Care are getting a boost from two Emerging Sectors:
Automotive + EV Manufacturing are contributing over $10+ Billion in regional investment (Ford Motor, Daimler Paccar, Blue River Steel)
Artificial Intelligence: xAI’s $12 Billion expansion into Memphis—backed by $20–$50 Billion in projected investment —places the city at the forefront of AI innovation. Just in May 2025, Google announced plans to expand its AI capabilities with a $10 Billion data center in West Memphis.
Over 15,000+ new jobs have already been announced across the City's core and emerging industry sectors. Suppliers who follow suit as tech companies expand their AI systems are expected to bring thousands of additional tech jobs, accelerating economic growth and creating demand for housing and a spike in rents.
In 2024, the Memphis MSA eclipsed $100 Billion for the first time in Gross Regional Product. Newly dubbed "The Digital Delta", Memphis is emerging as a strong market for multifamily investment.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS Under Contract
| Price | $1,525,000 | Building Class | C |
| Price Per Unit | $50,833 | Lot Size | 1.05 AC |
| Sale Type | Investment | Building Size | 45,152 SF |
| No. Units | 30 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | ||
| Zoning | R-MM | ||
| Price | $1,525,000 |
| Price Per Unit | $50,833 |
| Sale Type | Investment |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 1.05 AC |
| Building Size | 45,152 SF |
| No. Stories | 1 |
| Year Built | 1959 |
| Zoning | R-MM |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 18 | - | 625 |
| 2+1 | 12 | - | 875 |
PROPERTY TAXES
| Parcel Number | 05-5001-0-0003 | Improvements Assessment | $353,920 |
| Land Assessment | $59,440 | Total Assessment | $413,360 |
PROPERTY TAXES
Parcel Number
05-5001-0-0003
Land Assessment
$59,440
Improvements Assessment
$353,920
Total Assessment
$413,360
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