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1500 Madison Ave 12 Unit Apartment Building $901,504 CAD ($75,125 CAD/Unit) Memphis, TN 38104
Investment Highlights
- Historic property in need of full renovation, priced well below market
- See property website and OM for more info and photos
- Prime Midtown location!
Executive Summary
Woodyard Realty is pleased to present 1500 Madison Avenue, a 12-unit multifamily investment opportunity located in the heart of Midtown Memphis. Built in 1920, this three-story brick apartment building offers distinctive architectural character, established multifamily use, and significant value-add potential in one of Memphis' most desirable rental markets.
The property presents an opportunity for an investor to reposition a well-located Midtown asset through renovation and stabilization. Nine of the twelve units require substantial renovation, along with additional capital improvements to the property. With projected market rents of approximately $1,350 per unit following renovation, 1500 Madison offers investors the potential to increase occupancy, improve operations, and create long-term value through a comprehensive renovation program.
The property's central Midtown location provides convenient access to the Memphis Medical District, Downtown, Overton Square, Cooper-Young, and major employment and entertainment destinations throughout the urban core.
The property presents an opportunity for an investor to reposition a well-located Midtown asset through renovation and stabilization. Nine of the twelve units require substantial renovation, along with additional capital improvements to the property. With projected market rents of approximately $1,350 per unit following renovation, 1500 Madison offers investors the potential to increase occupancy, improve operations, and create long-term value through a comprehensive renovation program.
The property's central Midtown location provides convenient access to the Memphis Medical District, Downtown, Overton Square, Cooper-Young, and major employment and entertainment destinations throughout the urban core.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $901,504 CAD | Building Class | C |
| Price Per Unit | $75,125 CAD | Lot Size | 0.45 AC |
| Sale Type | Investment | Building Size | 14,598 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Parking Ratio | 0.69/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CH | ||
| Price | $901,504 CAD |
| Price Per Unit | $75,125 CAD |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 14,598 SF |
| No. Stories | 3 |
| Year Built | 1920 |
| Parking Ratio | 0.69/1,000 SF |
| Zoning | CH |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | - |
1 1
Very walkable
80/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 01-7031-0-0055 | Improvements Assessment | $147,625 CAD |
| Land Assessment | $99,360 CAD | Total Assessment | $246,984 CAD |
Property Taxes
Parcel Number
01-7031-0-0055
Land Assessment
$99,360 CAD
Improvements Assessment
$147,625 CAD
Total Assessment
$246,984 CAD
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1500 Madison Ave
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