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The Drew @ Medical District 1060 Merriwether Ave 39 Unit Apartment Building $3,127,738 CAD ($80,198 CAD/Unit) Memphis, TN 38105
Investment Highlights
- Call listing agent Worth Woodyard for more information 901-767-1998
- Visit the data room for access to OM
- See our listing website for financials and other information
Executive Summary
All newly renovated apartments right near the medical district! Fully gated property with security cameras in place. Great turn key opportunity for an investor who wants to enter the Memphis market at an affordable price. Granite counter tops, new flooring, new kitchens, new bathrooms. Nothing left untouched! Some units have washer/dryer units.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $3,127,738 CAD | Lot Size | 1.38 AC |
| Price Per Unit | $80,198 CAD | Building Size | 37,545 SF |
| Sale Type | Investment | Average Occupancy | 91% |
| No. Units | 39 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1966/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.57/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | RMM - Residential Multi-Family-Medium Density | ||
| Price | $3,127,738 CAD |
| Price Per Unit | $80,198 CAD |
| Sale Type | Investment |
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.38 AC |
| Building Size | 37,545 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built/Renovated | 1966/2024 |
| Parking Ratio | 1.57/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RMM - Residential Multi-Family-Medium Density |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Refrigerator
- Oven
- Family Room
Site Amenities
- 24 Hour Access
- Wi-Fi
- Community-Wide WiFi
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 17 | - | 475 - 854 |
| 2+1 | 22 | - | 788 |
Moderately walkable
70/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $630,542 CAD | |
| Land Assessment | $99,403 CAD | Total Assessment | $729,945 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$99,403 CAD
Improvements Assessment
$630,542 CAD
Total Assessment
$729,945 CAD
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The Drew @ Medical District | 1060 Merriwether Ave
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