3081 St. Charles Dr - Apartments FOR SALE


Memphis, TN 38127- Frayser
$4,500,000 USD
901-881-2070
3081 St. Charles Dr, Memphis, TN for Sale
$4,500,000 USD
Apartments - FOR SALE
1/64
null | Request Cap Rate

3081 St. Charles Dr
Memphis, TN 38127
Frayser


OVERVIEW

PRICE REDUCED! We are pleased to present Whitney Manor Apartments, a premier value-add investment opportunity comprising 96 units. Currently, approximately 81 of these units have been fully renovated, 14 are easy turns and 1 needing a total rehab, with the property operating at about 80% occupancy. This presents an exceptional chance for a savvy multifamily investor to capitalize on the potential for increased cash flow and property appreciation. Whitney Manor is strategically located within walking distance of local schools and a community center, making it an attractive choice for families seeking spacious, comfortable housing in a vibrant community. The property boasts ample off-street parking, enhancing its appeal to prospective tenants. With a strong unit mix predominantly featuring two-bedroom apartments, along with several three-bedroom and only two onebedroom units, Whitney Manor is well-positioned to meet the demand for family-oriented housing. Upon completion of the remaining renovations, we anticipate a swift lease-up period that will significantly enhance rental income, thereby maximizing investor returns. This is an incredible opportunity to invest in a property with solid fundamentals and substantial upside potential. Don’t miss your chance to be part of Whitney Manor’s promising future.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$62 USD /SF

# OF UNITS

96

PRICE/UNIT

$46,875

CAP RATE

Request Cap Rate

% LEASED

65%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Whitney Manor Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

200

LAND DETAILS

LAND ACRES

6.83 AC

LAND SF

297,515 SF

ZONING

RU-3

APN/PARCEL ID

07-0042-0-0058C

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.