Value-Add Apartment Complex
For Sale
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3130 S Mendenhall Rd, Memphis, TN 38115
Fully occupied apartment complex with value-add potential through stabilization.
Property Size135,320 SF
Price / SF$59.12
Days on Market942
Property Features for 3130 S Mendenhall Rd
General Information
Standard status
Active
Size
135,320 SF
Class
C
Total Parking Spaces
350
Property subtype
Multifamily
Zoning
CMU-1
Occupancy
85%
Net Operating Income
$872,801
Building Details
Year Built
1973
Buildings
17
Stories
3
Units
171
Listing Agency:
Braden, Braden & Braden CRE
Listed By:
Curtis Braden · License #TN-284224
(901) 881-2070
Source:
Crexi
Added: Mar 22, 2024
Changed: Oct 5
Last Checked: Oct 19 at 4:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Braden, Braden & Braden CRE
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Investment Insights
Based on property information with market context.
The Ivy Chase Apartments presents a value-added opportunity for investors through improved operations and stabilization. This property is a Section 42 LIHTC complex, featuring townhouse and flat-styled apartments. The property is fully occupied. With the last renovations completed in 2006/2007, there is potential for further improvements. The property size is 135,320 square feet.
Key Highlights
- Fully occupied apartments offer immediate rental income.
- Section 42 LIHTC complex provides potential tax benefits and stable tenant base.
- Value‑added opportunity through improved operations and stabilization.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Explore this area
Business Placement
Demographics for 38115, TN
40,076
Population
19,179
Households
2.1
Avg Household Size
30
Median Age
14%
College-Educated
87%
High-School Grad
8.6 sq mi
ZIP Area
4,660
Density / Sq Mi
$42,931
Median Household Income
$32,997
Median Earnings
$1,129
Median Rent
$129,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied apartment complex with value-add potential through stabilization.
Where is this apartment building located?
The property is located at 3130 S Mendenhall Rd Memphis, TN.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Fully occupied apartments offer immediate rental income.; Section 42 LIHTC complex provides potential tax benefits and stable tenant base.; Value‑added opportunity through improved operations and stabilization.
