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50 S Morrison St Memphis, TN 38104

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Apartment portfolio in Memphis' Midtown near medical construction.

Property Features for 50 S Morrison St

General Information

Standard status
Active

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Listing Contact
Steve Woodyard
Steve Woodyard
Source: Crexi

Listing Agency: Woodyard Realty Corporation Listing Agent: Steve Woodyard

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Memphis Midtown Apartment Portfolio

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.
Location Intelligence

Current Use by Public Records

Urban Peddler Apartment Building

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Memphis
County
Shelby
State
Tennessee
Longitude
-89.9942249
Latitude
35.1350762

FAQs

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 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.
More about this property
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