3896 Chippewa Rd - Apartments FOR SALE
Memphis, TN 38118 |
3896 Chippewa Rd
Memphis, TN 38118
HIGHLIGHTS
- Azure Place offers a savvy investment group the opportunity to acquire a fully renovated, amenity-rich 558-unit apartment community in Memphis.
- Significant upside exists through the implementation of a superior operational management style with a strong focus on increasing occupancy and rents.
- New ownership can create additional value on the property’s two parcels of land with development plans that would allow for 30 new units and retail.
- Memphis is popular among residents for its lower costs of living, renowned cultural heritage, business-friendly climate, and diverse workforce.
- Ongoing revitalization projects downtown and along the Mississippi River create an attractive and promising environment for long-term investment.
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
Garden-Style Community with Upside Potential
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
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
