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Medical Center Apartments 1177 Linden Ave 14 Unit Apartment Building $1,370,790 CAD ($97,914 CAD/Unit) 7% Cap Rate Memphis, TN 38104
Investment Highlights
- Ideally located in the heart of the Medical District (30,000 white collar jobs)
- Operational value add with significant upside captured by pushing rents and occupancy to market rates
- Cash flowing asset with strong historical occupancy
Executive Summary
Woodyard Realty Corporation is pleased to present the exclusive listing of the Medical Center Apartments located in the heart of the Memphis Medical District.
Medical Center Apartments is 14 one-bedroom floorplans next door to University Methodist Hospital, the 583-bed teaching and flagship hospital of the Methodist Le Bonheur Healthcare system.
Current ownership renovated the interiors, exteriors and installed new roofs in 2022.
Unit interiors boast beautiful hardwood floors, renovated kitchens and bathrooms, central heat and walk-in closets.
Medical Center Apartments is an exceptional opportunity to acquire a cash-flowing asset with substantial operational upside in the supply constrained and sought after Memphis Medical District.
Medical Center Apartments is 14 one-bedroom floorplans next door to University Methodist Hospital, the 583-bed teaching and flagship hospital of the Methodist Le Bonheur Healthcare system.
Current ownership renovated the interiors, exteriors and installed new roofs in 2022.
Unit interiors boast beautiful hardwood floors, renovated kitchens and bathrooms, central heat and walk-in closets.
Medical Center Apartments is an exceptional opportunity to acquire a cash-flowing asset with substantial operational upside in the supply constrained and sought after Memphis Medical District.
Property Facts
| Price | $1,370,790 CAD | Building Class | C |
| Price Per Unit | $97,914 CAD | Lot Size | 0.47 AC |
| Sale Type | Investment | Building Size | 11,200 SF |
| Cap Rate | 7% | Average Occupancy | 90% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1968/2022 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RU-3 | ||
| Price | $1,370,790 CAD |
| Price Per Unit | $97,914 CAD |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 11,200 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1968/2022 |
| Opportunity Zone |
Yes |
| Zoning | RU-3 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | 510 |
1 1
Very walkable
80/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 01-8045-0-0001C | Improvements Assessment | $427,901 CAD |
| Land Assessment | $83,148 CAD | Total Assessment | $511,049 CAD |
Property Taxes
Parcel Number
01-8045-0-0001C
Land Assessment
$83,148 CAD
Improvements Assessment
$427,901 CAD
Total Assessment
$511,049 CAD
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Medical Center Apartments | 1177 Linden Ave
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