345 Front St Memphis, TN 38103
- Residential income homes
Current Use by Public Records
- Annex Lofts / Apartment Complex
- Sleep Out Louies / Real Estate Consultant
Property Details for 345 Front St
- Property type
- Residential income homes
- Property subtype
- Apartment buildings
Description
This exceptional investment opportunity presents a three-asset Class A multifamily portfolio in the heart of Downtown Memphis, Tennessee. Comprising four buildings totaling 93 units, this portfolio offers immediate scale and significant value-add potential. The properties are located at 345 & 347 S Front St and 60 S Main St, Memphis, TN 38103, within Shelby County. The portfolio boasts an occupancy rate exceeding 83%, currently trending upward, and is priced at $14,525,000, or $117,000 per unit. This represents a compelling 60% of replacement cost, estimated at $200,000 per unit. The portfolio's contemporary loft residences feature modern urban finishes and are well-maintained. Strategic operational improvements, amenity upgrades, and technological enhancements present opportunities to further reduce vacancy and increase profitability. The portfolio benefits from its prime location in a vibrant live-work-play environment, proximate to major employers. This is a unique chance to acquire a substantial, debt-free multifamily portfolio in a rapidly growing market, offering immediate scale and long-term growth potential. The portfolio is available as a whole or individually. Interested parties should be prepared to provide proof of funds and a resume.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -90.059
- Latitude
- 35.1377
