1528 Ragan StMemphis, TN 38106

Property Details for 1528 Ragan St

Year built

2005

Lot size

9.79 AC

Property size (Sq ft)

5,440 SF

Zone code

IH

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

048-037- - -00013

APU

4803700013

Description

This exceptional 125-unit apartment building, located at 1528 Ragan St, Memphis, TN 38106, presents a compelling value-add investment opportunity. Currently operating at 83% occupancy (as of September 30, 2024), this Class C multifamily property offers significant upside potential. The asking price is $8,000,000, translating to $64,000 per unit. The property boasts a projected net operating income (NOI) of $400,000, yielding an attractive 20% capitalization rate. All 125 units are comprised of three and four-bedroom townhomes. This is a fee-simple sale, not subject to a ground lease. The property is being offered for sale by owner. The substantial number of units and the current occupancy rate, combined with the projected NOI and cap rate, make this a strong contender for investors seeking immediate returns and long-term growth. This is a rare opportunity to acquire a significant multifamily asset in a growing Memphis market. Detailed financial information is available upon request. The property is situated in Shelby County.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1045

Longitude

-90.0089

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.