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2 Property Multifamily Portfolio – East Memphis

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Address: 491 N Highland St, Memphis, TN 38122, USA

Atlanta & Southeast + Apartment Buildings

Created date: September 19, 2024

Date last updated: October 26, 2024

Property Description

SOLD AS A PORTFOLIO ONLY
High Point and Mendenhall Gardens Apartments are located near the highest income areas of Memphis and the Shelby Farms Greenline trail! Shelby Farms Greenline is a 10.65-mile paved, urban trail that connects pedestrians and cyclists in Midtown Memphis through Shelby Farms Park to Cordova. The Greenline is a rails-to-trails project that transformed an unused railroad line into one of Tennessee's favorite and green friendly trails. High Point is adjacent to the Chickasaw Country Club and Golf Course and offers the opportunity for the astute investor to market the golf course location to upgrade the rents. Founded in 1922, Chickasaw Country Club is an exclusive classic southern golf club conveniently located in the heart of Memphis. Chickasaw offers 18 holes of golf on a newly renovated William Langford classically designed course, indoor and outdoor tennis, swimming, fitness, casual and fine dining, in a friendly social environment for its members. Mendenhall Gardens' neighborhood is outstanding within one of the highest-income areas of East Memphis. The affluent clientele of the area makes the perfect prospects as the older affluent demographic will be scaling down to apartment living as the younger affluent renters move into the area. It is the best of both worlds.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$16,700,000
No. of Units:	146
Lot Size:	9.85 Sq ft
Opportunity Zone:	No
Price per unit:	$114,384
Property Website	Click Here