The Washburn | 60 S Main St
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The Washburn 60 S Main St
42 Unit Apartment Building $5,125,000 ($122,024/Unit) Memphis, TN 38103
Executive Summary
*Principals Only*
The Washburn Apartments [42 Units]
$5,125,000 - $122,000/Unit
Estimated cost if built new today, $200,000 per unit.
AVAILABLE INDIVIDUALLY or as part of
The 3-Asset Class A- Multifamily Portfolio I 93 Units
Featured under “View Properties” Tab on Home Page and includes:
The Printer’s Alley & Annex Lofts [51 Units] $5,750,000 or $113,000/Unit [Sold Together]
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PORTFOLIO INVESTMENT HIGHLIGHTS
Attractive Basis - $80,000 per Unit Below Replacement Cost
No Heavy Lifting - Contemporary Loft Residences with Modern Urban Finishes in Well-maintained Condition. Competitively positioned in Market.
Untapped Potential via Operational Improvements, Amenity, and Technology Upgrades aimed at Reducing Vacancy
Fantastic Workforce Location – Surrounded By Region’s Largest Employers
Unique Opportunity To Obtain Immediate Scale with 121 Units
Offered Free & Clear of Existing Debt
LOCATION HIGHLIGHTS
Lifestyle Location - Downtown Memphis convenience in a Live Work Play environment convenient to the city’s premier employment anchors.
Battery Belt and AI Tech Hub – Recent advanced manufacturing and high-tech AI projects within 45 minutes of Memphis have eclipsed $13 billion in investment, and are projected to add 9,000 direct jobs to the MSA. These capital investments involve corporate giants including Ford Motor, Musk Companies, Daimler Truck among others.
OFFERING PROCEDURE
Offers may be submitted along with Proof of Funds and a Resume at any point during the marketing process. A deadline for offers may be established at a later date.
The Washburn Apartments [42 Units]
$5,125,000 - $122,000/Unit
Estimated cost if built new today, $200,000 per unit.
AVAILABLE INDIVIDUALLY or as part of
The 3-Asset Class A- Multifamily Portfolio I 93 Units
Featured under “View Properties” Tab on Home Page and includes:
The Printer’s Alley & Annex Lofts [51 Units] $5,750,000 or $113,000/Unit [Sold Together]
?????
PORTFOLIO INVESTMENT HIGHLIGHTS
Attractive Basis - $80,000 per Unit Below Replacement Cost
No Heavy Lifting - Contemporary Loft Residences with Modern Urban Finishes in Well-maintained Condition. Competitively positioned in Market.
Untapped Potential via Operational Improvements, Amenity, and Technology Upgrades aimed at Reducing Vacancy
Fantastic Workforce Location – Surrounded By Region’s Largest Employers
Unique Opportunity To Obtain Immediate Scale with 121 Units
Offered Free & Clear of Existing Debt
LOCATION HIGHLIGHTS
Lifestyle Location - Downtown Memphis convenience in a Live Work Play environment convenient to the city’s premier employment anchors.
Battery Belt and AI Tech Hub – Recent advanced manufacturing and high-tech AI projects within 45 minutes of Memphis have eclipsed $13 billion in investment, and are projected to add 9,000 direct jobs to the MSA. These capital investments involve corporate giants including Ford Motor, Musk Companies, Daimler Truck among others.
OFFERING PROCEDURE
Offers may be submitted along with Proof of Funds and a Resume at any point during the marketing process. A deadline for offers may be established at a later date.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $5,125,000 | Apartment Style | Mid Rise |
| Price Per Unit | $122,024 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.25 AC |
| No. Units | 42 | Building Size | 45,144 SF |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built/Renovated | 1891/2009 |
| Price | $5,125,000 |
| Price Per Unit | $122,024 |
| Sale Type | Investment |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 0.25 AC |
| Building Size | 45,144 SF |
| No. Stories | 5 |
| Year Built/Renovated | 1891/2009 |
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Stainless Steel Appliances
- Tub/Shower
- Wheelchair Accessible (Rooms)
Site Amenities
- Elevator
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 30 | - | 712 - 1,030 |
| 2+2 | 12 | - | 1,237 - 1,312 |
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Walk Score ®
Walker's Paradise (94)
Bike Score ®
Very Bikeable (88)
PROPERTY TAXES
| Parcel Number | 00-2056-0-0006 | Improvements Assessment | $970,080 |
| Land Assessment | $64,360 | Total Assessment | $1,034,440 |
PROPERTY TAXES
Parcel Number
00-2056-0-0006
Land Assessment
$64,360
Improvements Assessment
$970,080
Total Assessment
$1,034,440
zoning
| Zoning Code | CBD (Commercial Business Development Zoning) |
| CBD (Commercial Business Development Zoning) |
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The Washburn | 60 S Main St
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