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Ivy Chase Apartments 3130 S Mendenhall Rd

171 Unit Apartment Building $12,825,000 ($75,000/Unit) Memphis, TN 38115

Executive Summary

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

Property Facts

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

PROPERTY TAXES

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
  • Listing ID: 31293142

  • Date on Market: 3/21/2024

  • Last Updated:

  • Address: 3130 S Mendenhall Rd, Memphis, TN 38115

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