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Commons At Brentwood 640 Aspire Ln

80 Unit Apartment Building $6,000,000 ($75,000/Unit) 7.44% Cap Rate Memphis, TN 38111

Apartment Buildings Tennessee Memphis 640 Aspire Ln, Memphis, TN 38111

Investment Highlights

  • Great Value-ADD Opportunity
  • Great Value-ADD Opportunity
  • Great Value-ADD Opportunity

Executive Summary

Great Value-ADD Opportunity. LIHTC Asset. No Financials!!! No Financials!!! No Financials!!!

Attachments

Commons at Brentwood

Property Facts

Price $6,000,000 Apartment Style Garden
Price Per Unit $75,000 Building Class B
Sale Type Investment Lot Size 4.42 AC
Cap Rate 7.44% Building Size 115,064 SF
Sale Conditions Deferred Maintenance Average Occupancy 100%
Gross Rent Multiplier 7.09 No. Stories 2
No. Units 80 Year Built 2002
Property Type Multifamily Parking Ratio 1.39/1,000 SF
Property Subtype Apartment Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Price $6,000,000
Price Per Unit $75,000
Sale Type Investment
Cap Rate 7.44%
Sale Conditions Deferred Maintenance
Gross Rent Multiplier 7.09
No. Units 80
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class B
Lot Size 4.42 AC
Building Size 115,064 SF
Average Occupancy 100%
No. Stories 2
Year Built 2002
Parking Ratio 1.39/1,000 SF
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

  • Air Conditioning
  • Washer/Dryer Hookup
  • Walk-In Closets
  • Wheelchair Accessible (Rooms)

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 11 - 963
2+1.5 10 - 966
3+2 59 - 1,135 - 1,197
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PROPERTY TAXES

Parcel Number 04-5024-0-0001 Improvements Assessment $976,720
Land Assessment $93,520 Total Assessment $1,070,240

PROPERTY TAXES

Parcel Number
04-5024-0-0001
Land Assessment
$93,520
Improvements Assessment
$976,720
Total Assessment
$1,070,240

zoning

Zoning Code RU-3
RU-3
(901) 881-2070

Contact

  • Listing ID: 29060472

  • Date on Market: 7/20/2023

  • Last Updated:

  • Address: 640 Aspire Ln, Memphis, TN 38111

More public record information on 640 Aspire Ln, Memphis, TN 38111

The Multifamily Property at 640 Aspire Ln, Memphis, TN 38111 is currently available for sale. Contact Braden, Braden & Braden LLC for more information.

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Commons At Brentwood | 640 Aspire Ln
(901) 881-2070 x

Commons At Brentwood | 640 Aspire Ln

Curtis Braden

(901) 881-2070

(901) 881-2070

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