Studio Rasa 1030 Poplar Ave
86 Unit Apartment Building $10,750,000 ($125,000/Unit) Memphis, TN 38105
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EXECUTIVE SUMMARY
Developer just finished the full renovation and the initial lease-up is now at 90%+! Studio Rasa is located in the heart of the Memphis Medical District/Midtown and Downtown where jobs and employment are growing. There is over $13 Billion in new business and medical construction within a 2-mile radius of the subject property so rents are expected to grow!
Unit Features: fully renovated kitchens with microwave, refrigerator, range, washer/dryer.
Community Features: gated, controlled access parking, laundry facilities, courtyard.
Unit Features: fully renovated kitchens with microwave, refrigerator, range, washer/dryer.
Community Features: gated, controlled access parking, laundry facilities, courtyard.
PROPERTY FACTS
Price | $10,750,000 |
Price Per Unit | $125,000 |
Sale Type | Investment |
No. Units | 86 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 1.43 AC |
Building Size | 45,471 SF |
Average Occupancy | 66% |
No. Stories | 2 |
Year Built/Renovated | 1964/2023 |
Opportunity Zone |
Yes |
SITE AMENITIES
- Controlled Access
- Courtyard
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
Studios | 67 | - | 340 - 430 |
1+1 | 19 | - | 550 - 575 |
PROPERTY TAXES
Parcel Number | 02-0090-0-0007C | Improvements Assessment | $492,900 |
Land Assessment | $125,200 | Total Assessment | $618,100 |
ZONING
Zoning Code | Commercial |