1177 Linden - Apartments FOR SALE


Memphis, TN 38104- Midtown Memphis
$1,000,000 USD
901-340-7475
1177 Linden, Memphis, TN for Sale
$1,000,000 USD
Apartments - FOR SALE
1/19
null | 7% Cap Rate

1177 Linden
Memphis, TN 38104
Midtown Memphis


HIGHLIGHTS

  • Ideally located in the heart of the Medical District (30,000 white collar jobs)
  • Cash flowing asset with strong historical occupancy
  • Operational value add with significant upside captured by pushing rents and occupancy to market rates

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,000,000 USD

PRICE/SF

$49 USD /SF

# OF UNITS

14

PRICE/UNIT

$71,429

CAP RATE

7%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Medical Center

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.47 AC

LAND SF

20,473 SF

ZONING

RU-3

APN/PARCEL ID

01-8045-0-0001C

ASK ABOUT THIS PROPERTY

Bryan SiskWoodyard Realty CorporationMore Info
901-340-7475

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Bryan SiskWoodyard Realty CorporationMore Info
901-340-7475

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.