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Crosstown 116 Unit Portfolio 2 biens • Immeuble residentiel • À vendre 7 215 407 $ CAD • Memphis, TN
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Résumé de l'annonce
Crosstown 116 Portfolio
116 Units | Four Adjacent Communities | Available Individually or as a Portfolio
The Victorian [32 Units] - $1,530,000 I $47,813/Unit
Overton Place Studios [32 Units] - $1,060,000 I $33,125/Unit
Gardens I [32 Units] - $1,630,000 I $50,938/Unit
Gardens II [20 Units] - $930,000 I $46,500/Unit
Crosstown 116 is a 116-unit multifamily portfolio comprising four adjacent apartment communities located one block from Crosstown Concourse—Memphis' nationally recognized mixed-use destination. Available individually or as a portfolio, the offering presents investors with a rare opportunity to acquire a meaningful presence within one of Midtown Memphis' most dynamic urban neighborhoods.
Assembled under the same ownership as Crosstown Concourse, the portfolio is positioned to benefit from the district's continued evolution as a thriving mixed-use ecosystem anchored by more than 55 businesses, healthcare providers, restaurants, arts organizations, educational institutions, office employers, and entertainment venues. This walkable environment supports durable renter demand while providing a distinctive amenity base rarely found in workforce housing.
The business plan combines phased interior renovations, lease-up of down units, operational efficiencies, and the advantages of portfolio scale to create multiple avenues for long-term value creation. Investors have the flexibility to acquire the entire portfolio or individual communities, allowing the opportunity to accommodate a broad range of investment strategies.
Investment Highlights
Compelling Basis – Acquire at approximately $44,400 per unit, substantially below replacement cost.
Immediate Value-Add Opportunity – 27 down units provide immediate lease-up potential while phased renovations unlock additional upside.
Demonstrated Rent Premiums - Renovated comparable properties support projected rent increases of approximately $150–$300 per month, depending on the community.
One Block from Crosstown Concourse – Walkable location within Memphis' premier mixed-use district anchored by 55+ businesses, healthcare, dining, arts, and entertainment.
Scale Creates Efficiency – 116 units across four neighboring communities support centralized leasing, maintenance, purchasing, and capital improvements.
Multiple Independent Drivers of NOI Growth – Lease-up, interior renovations, operating efficiencies, and continued neighborhood appreciation.
Projected 8.0% Stabilized Yield on Cost – Underwritten renovation program designed to create meaningful NOI growth.
116 Units | Four Adjacent Communities | Available Individually or as a Portfolio
The Victorian [32 Units] - $1,530,000 I $47,813/Unit
Overton Place Studios [32 Units] - $1,060,000 I $33,125/Unit
Gardens I [32 Units] - $1,630,000 I $50,938/Unit
Gardens II [20 Units] - $930,000 I $46,500/Unit
Crosstown 116 is a 116-unit multifamily portfolio comprising four adjacent apartment communities located one block from Crosstown Concourse—Memphis' nationally recognized mixed-use destination. Available individually or as a portfolio, the offering presents investors with a rare opportunity to acquire a meaningful presence within one of Midtown Memphis' most dynamic urban neighborhoods.
Assembled under the same ownership as Crosstown Concourse, the portfolio is positioned to benefit from the district's continued evolution as a thriving mixed-use ecosystem anchored by more than 55 businesses, healthcare providers, restaurants, arts organizations, educational institutions, office employers, and entertainment venues. This walkable environment supports durable renter demand while providing a distinctive amenity base rarely found in workforce housing.
The business plan combines phased interior renovations, lease-up of down units, operational efficiencies, and the advantages of portfolio scale to create multiple avenues for long-term value creation. Investors have the flexibility to acquire the entire portfolio or individual communities, allowing the opportunity to accommodate a broad range of investment strategies.
Investment Highlights
Compelling Basis – Acquire at approximately $44,400 per unit, substantially below replacement cost.
Immediate Value-Add Opportunity – 27 down units provide immediate lease-up potential while phased renovations unlock additional upside.
Demonstrated Rent Premiums - Renovated comparable properties support projected rent increases of approximately $150–$300 per month, depending on the community.
One Block from Crosstown Concourse – Walkable location within Memphis' premier mixed-use district anchored by 55+ businesses, healthcare, dining, arts, and entertainment.
Scale Creates Efficiency – 116 units across four neighboring communities support centralized leasing, maintenance, purchasing, and capital improvements.
Multiple Independent Drivers of NOI Growth – Lease-up, interior renovations, operating efficiencies, and continued neighborhood appreciation.
Projected 8.0% Stabilized Yield on Cost – Underwritten renovation program designed to create meaningful NOI growth.
Salle de données Cliquez ici pour accéder à
- Offering Memorandum
Faits sur la propriété
| Prix | 7 215 407 $ CAD | Nombre de propriétés | 3 |
| Prix/pi² | 96,98 $ CAD / pi² | Individuellement en vente | 0 |
| Type de vente | Investissement ou propriétaire utilisateur | Taille totale du bâtiment | 74 399 pi² |
| Statut | Actif | Superficie totale du terrain | 2,00 AC |
| Prix | 7 215 407 $ CAD |
| Prix/pi² | 96,98 $ CAD / pi² |
| Type de vente | Investissement ou propriétaire utilisateur |
| Statut | Actif |
| Nombre de propriétés | 3 |
| Individuellement en vente | 0 |
| Taille totale du bâtiment | 74 399 pi² |
| Superficie totale du terrain | 2,00 AC |
Propriétés
| Nom de la propriété/adresse | Type de propriété | Taille | Année de construction | Prix individuel |
|---|---|---|---|---|
|
Overton Place
1214 Overton Park Ave, Memphis, TN 38104 |
Immeuble residentiel | 47 593 pi² | 1920 | - |
| 1230 Overton Park Ave, Memphis, TN 38104 | Immeuble residentiel | 26 806 pi² | 1963 | - |
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Crosstown 116 Unit Portfolio
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