Renovation nearly complete!
Studio Rasa
1030 Poplar Avenue, Memphis TN 38105
The Offering
Summary
- Purchase Price $12,040,000
- Number of Units 86
- Price per Unit $140,000
- Gross Sq Ft 39,502
- Year Built/Renovated 1964/2023
- Number of Buildings 2
- Number of Stories 2
- Land Area 1.43 ac
Developer is finishing full renovation of everything right now! Due to demand, owner has decided to furnish 30 units in total. Additional rent will add approximately $1.46m in value.
CALL FOR OCCUPANCY UPDATES!
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 astronomically!
The property has an increased cash flow due to PILOT - the city of Memphis offered a 14-year tax reduction and freeze which will shield buyer's risk for a significant amount of time.
Unit Features: fully renovated and all new kitchens with microwave, refrigerator, range, washer/dryer.
Community Features: gated, controlled access parking, laundry facilities, courtyard.
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Woodyard Realty Corp.
5865 Ridgeway Center Pkwy Ste 300, Memphis, TN 38120
Phone 901-767-1998
TN Company License #256220
MS Company License #C-21186
5865 Ridgeway Center Pkwy Ste 300, Memphis, TN 38120
Phone 901-767-1998
TN Company License #256220
MS Company License #C-21186