Studio Rasa 1030 Poplar Ave

86 Unit Apartment Building $10,750,000 ($125,000/Unit) Memphis, TN 38105

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.

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

ZONING

Zoning Code Commercial
  • Listing ID: 34830353

  • Date on Market: 2/14/2025

  • Last Updated:

  • Address: 1030 Poplar Ave, Memphis, TN 38105