Memphis Midtown Apartment
For Sale
Contact for pricing
50 S Morrison St, Memphis, TN 38104
Apartment portfolio in Memphis' Midtown near medical construction.
Property SizeContact for details
Days on Market173
Property Features for 50 S Morrison St
General Information
Standard status
Active
Property subtype
Multifamily
Building Details
Year Built
1962
Buildings
2
Stories
2
Units
24
Listing Agency:
Woodyard Realty Corporation
(901) 767-1998
Listed By:
Steve Woodyard · License #TN 217464
Source:
Crexi
Added: Mar 3
Changed: Aug 15
Last Checked: Aug 22 at 8:33AM
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 Woodyard Realty Corporation
Investment Insights
Based on property information with market context.
The Urban Peddler & Stonerose Apartments represent an investment opportunity situated in Memphis’ Midtown district. The property's location near $14 billion in new medical construction positions it to capitalize on the anticipated influx of jobs and sustained housing demand. The location provides residents access to entertainment, dining, and cultural attractions. Each unit includes an in-unit washer and dryer and central HVAC. The property is being offered as a portfolio. Fannie Mae assumption requirements include a 20% equity requirement, where a portion of this equity can be satisfied by the difference between the agreed-upon purchase price and the current outstanding loan balance at the time of closing. The remaining balance can be placed into a reserve account to be used for property improvements. This reserve would function like a draw escrow where you can access the funds as work is completed. The escrow account does not have to be replenished and is one time only for improvements or repairs to the property. Third party management is allowed.
Key Highlights
- Strategic location in Memphis' Midtown, near significant medical construction and job growth.
- Fannie Mae loan assumption available with flexible equity structure and improvement reserve.
- Modern amenities include in‑unit washer and dryer and central HVAC.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,243
Businesses Nearby
Explore this area
Business Placement
Demographics for 38104, TN
22,584
Population
14,315
Households
1.6
Avg Household Size
38
Median Age
52%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
4,517
Density / Sq Mi
$56,452
Median Household Income
$48,300
Median Earnings
$1,073
Median Rent
$301,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment portfolio in Memphis' Midtown near medical construction.
Where is this apartment building located?
The property is located at 50 S Morrison St Memphis, TN.
What is the asking price?
The asking price for this property is $2,520,000.
What are key features of this property?
This property features: Strategic location in Memphis' Midtown, near significant medical construction and job growth.; Fannie Mae loan assumption available with flexible equity structure and improvement reserve.; Modern amenities include in‑unit washer and dryer and central HVAC.
