New price!
Madison East Apartments
2780 Madison Avenue Memphis TN 38111
Virtual Tour
The Offering
Summary
- Asking price $5,700,000
- Price per unit $89,063
- Number of units 64
- Year Built/Renovated 1967/1980
- Gross sq ft 12,006
- Land area 2.56 ac
- Number of buildings 8
- Number of stories 2
Available separately or as the portfolio with single family homes & duplexes
Significant Price Reduction!
MADISON EAST APARTMENTS - 64 Multifamily Units
$5,700,000 I 7.10% Cap Rate I $421,000 Proforma NOI
- 6.35% Cap Rate on In-Place NOI
- Raise Cap to 8.125% via Value-Add (update Legacy Units (22) and lift balance of units to Market Rents at lease trade-out)
- 97% Stabilized Occupancy
- Suitable for Agency Financing
- Prime Poplar Avenue location—along city’s main East-West corridor nestled in a residential neighborhood
Available Separately (64 Units Apartment Complex) or as a Portfolio with 3 adjoining Duplexes & 3 SF Homes (9 Additional Units)
Zoom
Woodyard Realty Corp.
5865 Ridgeway Center Pkwy Ste 300, Memphis, TN 38120
Phone 901-767-1998
TN Company License #256220
MS Company License #C-21186
5865 Ridgeway Center Pkwy Ste 300, Memphis, TN 38120
Phone 901-767-1998
TN Company License #256220
MS Company License #C-21186