60 S Main St - Apartments FOR SALE


Memphis, TN 38103
$5,125,000 USD
901-842-5322
60 S Main St, Memphis, TN for Sale
$5,125,000 USD
Apartments - FOR SALE
1/23
null | Request Cap Rate

60 S Main St
Memphis, TN 38103


OVERVIEW

*Principals Only* The Washburn Apartments [42 Units] $5,125,000 - $122,000/Unit Estimated cost if built new today, $200,000 per unit. AVAILABLE INDIVIDUALLY or as part of The 3-Asset Class A- Multifamily Portfolio I 93 Units Featured under “View Properties” Tab on Home Page and includes: The Printer’s Alley & Annex Lofts [51 Units] $5,750,000 or $113,000/Unit [Sold Together] ????? PORTFOLIO INVESTMENT HIGHLIGHTS Attractive Basis - $80,000 per Unit Below Replacement Cost No Heavy Lifting - Contemporary Loft Residences with Modern Urban Finishes in Well-maintained Condition. Competitively positioned in Market. Untapped Potential via Operational Improvements, Amenity, and Technology Upgrades aimed at Reducing Vacancy Fantastic Workforce Location – Surrounded By Region’s Largest Employers Unique Opportunity To Obtain Immediate Scale with 121 Units Offered Free & Clear of Existing Debt LOCATION HIGHLIGHTS Lifestyle Location - Downtown Memphis convenience in a Live Work Play environment convenient to the city’s premier employment anchors. Battery Belt and AI Tech Hub – Recent advanced manufacturing and high-tech AI projects within 45 minutes of Memphis have eclipsed $13 billion in investment, and are projected to add 9,000 direct jobs to the MSA. These capital investments involve corporate giants including Ford Motor, Musk Companies, Daimler Truck among others. OFFERING PROCEDURE Offers may be submitted along with Proof of Funds and a Resume at any point during the marketing process. A deadline for offers may be established at a later date.

FOR SALE DETAILS

PRICE

$5,125,000 USD

PRICE/SF

$114 USD /SF

# OF UNITS

42

PRICE/UNIT

$122,024

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Washburn

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1891

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

CBD

APN/PARCEL ID

00-2056-0-0006

ASK ABOUT THIS PROPERTY

Lea HeiligWoodyard Realty CorporationMore Info
901-842-5322

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Lea HeiligWoodyard Realty CorporationMore Info
901-842-5322

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