Completely renovated and stabilized!
Studio Rasa
1030 Poplar Avenue, Memphis TN 38105
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The Offering
Summary
- Purchase Price $10,750,000
- Number of Units 86
- Price per Unit $125,000
- Gross Sq Ft 39,502
- Year Built/Renovated 1964/2023
- Number of Buildings 2
- Number of Stories 2
- Land Area 1.436 ac
Developer just finished the full renovation and the initial lease-up is now at 90%+! 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!
Unit Features: fully renovated kitchens with microwave, refrigerator, range, washer/dryer.
Community Features: gated, controlled access parking, laundry facilities, courtyard.
Emerging Markets in Technology and New Job Growth:
- Lawrence Yun, Chief Economist for the NAR predicted a spike in rents for the Memphis area given the job projections and lack of new construction on the horizon.
- Booming Job Growth: Elon Musk’s Colossus has opened a mega AI Center in Memphis
- PathAI, another leading AI company, has recently expanded into the city.
- Dell Computer, Super Micro, and Nvidia have all announced coming to Memphis
- Strategic Economic Shift: The Memphis Chamber of Commerce has branded the city as America’s Distribution Center and The Digital Delta, signaling a shift toward a thriving tech and logistics hub.
- Healthcare Expansion: St. Jude’s Hospital is investing $13 billion into a massive expansion, while Regional One Health just announced a new $1 billion hospital campus.
- Crime Reduction: Crime is down by double digits.
- High Rental Demand & ROI: With some of the lowest housing costs in the US, a growing economy, rising job opportunities, and an increasing working population, Memphis will see an unprecedented demand for rentals. The result? Stronger cash flow potential, and higher rents for investors with significant appreciation to follow.
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
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