Ivy Chase Apartments | 3130 S Mendenhall Rd
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Ivy Chase Apartments 3130 S Mendenhall Rd
171 Unit Apartment Building $12,825,000 ($75,000/Unit) Memphis, TN 38115
INVESTMENT HIGHLIGHTS
- This Asset is being sold in a portfolio with two other multifamily assets Aspenwoods and Common AT Brentwood
EXECUTIVE SUMMARY
Portfolio Deal Only being sold with two other multifamily assets!!
The Ivy Chase Apartments offers a value-added opportunity to investors through improved operations and stabilization. The property is a Section 42 LIHTC complex, and its townhouse and flat-styled apartments are fully occupied. Due to its last renovations taking place in 2006/2007, its potential is tremendous. No Financials!!! No Financials!!! No Financials!!!
The Ivy Chase Apartments offers a value-added opportunity to investors through improved operations and stabilization. The property is a Section 42 LIHTC complex, and its townhouse and flat-styled apartments are fully occupied. Due to its last renovations taking place in 2006/2007, its potential is tremendous. No Financials!!! No Financials!!! No Financials!!!
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS Under Contract
| Price | $12,825,000 | Building Class | C |
| Price Per Unit | $75,000 | Lot Size | 5.52 AC |
| Sale Type | Investment | Building Size | 135,320 SF |
| No. Units | 171 | Average Occupancy | 97% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1973 |
| Apartment Style | Garden | Parking Ratio | 3.31/1,000 SF |
| Price | $12,825,000 |
| Price Per Unit | $75,000 |
| Sale Type | Investment |
| No. Units | 171 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.52 AC |
| Building Size | 135,320 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built | 1973 |
| Parking Ratio | 3.31/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Refrigerator
- Oven
- Carpet
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 45 | - | 455 - 728 |
| 2+1 | 45 | - | 939 |
| 2+1.5 | 43 | - | 939 |
| 3+2 | 38 | - | 1,346 |
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PROPERTY TAXES
| Parcel Number | 07-4074-0-0028 | Improvements Assessment | $663,680 |
| Land Assessment | $199,080 | Total Assessment | $862,760 |
PROPERTY TAXES
Parcel Number
07-4074-0-0028
Land Assessment
$199,080
Improvements Assessment
$663,680
Total Assessment
$862,760
ZONING
| Zoning Code | C-L |
| C-L |
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Ivy Chase Apartments | 3130 S Mendenhall Rd
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