347 S Pauline St - Apartments FOR SALE


Memphis, TN 38104- Medical District
$450,800 USD
901-881-2070
347 S Pauline St, Memphis, TN for Sale
$450,800 USD
Apartments - FOR SALE
1/3
null | Request Cap Rate

347 S Pauline St
Memphis, TN 38104
Medical District


HIGHLIGHTS

  • Pauline Place provides a seven-unit apartment community with a great location in the Memphis Medical District and significant value-add potential.
  • Sold as a package deal with 986 Peabody, providing a total of 15 apartments units for a total purchase price of $966,000.
  • Placed near top job centers, including FedEx Corporate, Le Bonheur and Baptist Memorial healthcare systems, and the Memphis International Airport.
  • Highly visible community signage provides excellent brand exposure to more than 4,000 passing vehicles each day.

OVERVIEW

The Pauline Place apartment community at 347 S Pauline Street in Memphis provides a turnkey multifamily investment with significant operational upside in the Medical District neighborhood. Pauline Place comprises seven apartments across 5,100 square feet on two floors. The building was constructed in 1965 and provides quality features, including on-site parking, professional landscaping, and prominent signage with brand exposure to more than 4,000 daily vehicles. Pauline Place’s exceptional location is easily accessible, sitting just off Interstate 69 between Highway 78 and 51. These vital corridors connect the property to Downtown Memphis in less than 10 minutes. Residents enjoys easy access to the city’s most popular attractions, including Beale Street, the Orpheum Theatre, the Memphis Rock n’ Soul Museum, the Cannon Center for the Performing Arts, FedEx Forum, and AutoZone Park. Proximity to the city’s largest employment centers makes Pauline Place an attractive option for the area’s commuting professionals. Workers employed at the Le Bonheur and Baptist Memorial healthcare systems, the Memphis International Airport, and the global headquarters for AutoZone, FedEx, and First Horizon National Corporation will be perfectly situated at Pauline Place.

FOR SALE DETAILS

PRICE

$450,800 USD

PRICE/SF

$88 USD /SF

# OF UNITS

7

PRICE/UNIT

$64,400

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

RMM

APN/PARCEL ID

01-8024-0-0005

ASK ABOUT THIS PROPERTY

Curtis Braden, CCIMBraden, Braden & Braden LLCMore Info
901-881-2070

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Curtis Braden, CCIMBraden, Braden & Braden LLCMore Info
901-881-2070

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