3130 Mendenhall Rd Memphis, TN 38115
Sponsored
171-Unit Apartment Complex, High Potential
Property size:
135,320 SFDescription
- Added:
- Dec 11, 2024
- Days on Market:
- 392
Property Features for 3130 Mendenhall Rd
General Information
- Property type
- Multifamily properties
- Square Feet
- 135,320 SF
- Class
- C
- Lot Size
- 240,451 SF
Building Details
- Year Built
- 1973
- Buildings
- 17
- Stories
- 3
- Units
- 171
HighLights
- $12,000,000 asking price for a 171‑unit apartment building.
- 5.63% current cap rate, 10.31% pro‑forma cap rate.
- 85% occupancy with a Net Operating Income (NOI) of $676,165, and a pro‑forma NOI of $1,237,612.
- 135,320 square feet, priced at $88.68 per square foot.
- Located at 3130 S Mendenhall Rd, Memphis, TN 38115, on a 5.52‑acre lot.
- Fee simple ownership, with 350 parking spaces.
Property Profile
Location Intelligence
Current Use by Public Records
Ivy Chase Apartments
Apartment Complex
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.8854099
- Latitude
- 35.0629546
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - 171-Unit Apartment Complex, High Potential
Where is this multifamily property located?
The property is located at 3130 Mendenhall Rd Memphis, TN.
What is the asking price?
The asking price for this property is $12,000,000.
What are key features of this property?
This property features: $12,000,000 asking price for a 171-unit apartment building.; 5.63% current cap rate, 10.31% pro-forma cap rate.; 85% occupancy with a Net Operating Income (NOI) of $676,165, and a pro-forma NOI of $1,237,612.
