3896 Chippewa Rd - Apartments FOR SALE
Memphis, TN 38118 |
3896 Chippewa Rd
Memphis, TN 38118
HIGHLIGHTS
- In-place rents are 66% percent below HUD’s 2024 Fair Market Rents
- Full-scale interior unit renovation of class A level was finished in 2022
- No property taxes for 20 years via Payment In Lieu Of Taxes (PILOT) program
- An unconventional value-adding opportunity that necessitates minimal capital investment
- Immediate access to major Memphis employers
- Available free & clear (no assumable debt)
FOR SALE DETAILS
PRICE
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# OF UNITS
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CAP RATE
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% LEASED
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BUILDING DETAILS
PROPERTY NAME
Azure Place
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
ADD'L SUBTYPES
Storefront Retail/Residential
TOTAL BUILDING SIZE
511760
STORIES
2
YEAR BUILT
1972
PARKING SPACES
1176
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
07-3017-0-0195
