56 Main St Memphis, TN 38103

This exceptional Class A apartment building, The Washburn, presents a compelling investment opportunity in the heart of Memphis, Tennessee. Located at 56 S Main St, this five-story building boasts 44 units within 101,200 square feet, situated on a 0.25-acre lot. Originally constructed in 1891 and extensively renovated in 2009, The Washburn offers contemporary loft residences with modern urban finishes. The property's strong financial performance is highlighted by an asking price of $5,125,000, translating to $50.64 per square foot and $116,477.27 per unit. Its prime downtown location provides residents with easy access to major employers and a vibrant live-work-play environment. The building benefits from its proximity to the burgeoning Battery Belt and AI Tech Hub, a region experiencing significant economic growth and job creation. This presents an opportunity to capitalize on a strong rental market and potentially increase profitability through operational improvements, amenity additions, and technological upgrades. The property is offered free and clear of existing debt, providing a streamlined acquisition process. Interested parties should submit offers with proof of funds and a resume. A deadline for offers may be established at a later date.