- Prime Location & Demand Drivers
- Strong Tenant Base
- Over $2.2MM in Capital Improvements
- Value-Add Upside
- Commercial Activation Opportunity
- Attractive Amenity Package
Over $2.2MM in Capital Improvements
Over $2.2 million has already been invested into comprehensive exterior and infrastructure renovations. Recent improvements include updates to the gym, elevator, boiler and tank systems, risers, lobby, HVAC, hallways, and exterior paint and repairs. These upgrades have significantly reduced the property’s deferred maintenance, allowing a new owner to focus capital expenditures on driving income growth through interior renovations.
Value-Add Upside
Of the 201 total units, only 4 have been significantly upgraded. This leaves 197 classic units that are primed for renovation, providing a clear value-add roadmap. A targeted, phased interior upgrade program can unlock rental premiums and overall asset value. Operational efficiencies and recapturing loss-to-lease offer further upside for the next operator.
Prime Location & Demand Drivers
The property enjoys immediate access to key destinations including the FedEx Forum, Bass Pro Pyramid, Renasant Convention Center, and the iconic Beale Street. Just as importantly, it is located in the heart of Memphis’ Medical District, surrounded by institutional anchors like St. Jude Children’s Research Hospital, Methodist University Hospital, Le Bonheur Children’s Hospital, and Regional One Health. These employers attract a large and consistent base of healthcare workers and students, driving year-round rental demand.
