For Sale
$14,525,000

345 Front StMemphis, TN 38103

93 Units, Class A, Downtown Memphis

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a three-asset Class A multifamily portfolio in the heart of Downtown Memphis, Tennessee. Comprising four buildings totaling 93 units, this portfolio offers immediate scale and significant value-add potential. The properties are located at 345 & 347 S Front St and 60 S Main St, Memphis, TN 38103, within Shelby County. The portfolio boasts an occupancy rate exceeding 83%, currently trending upward, and is priced at $14,525,000, or $117,000 per unit. This represents a compelling 60% of replacement cost, estimated at $200,000 per unit. The portfolio's contemporary loft residences feature modern urban finishes and are well-maintained. Strategic operational improvements, amenity upgrades, and technological enhancements present opportunities to further reduce vacancy and increase profitability. The portfolio benefits from its prime location in a vibrant live-work-play environment, proximate to major employers. This is a unique chance to acquire a substantial, debt-free multifamily portfolio in a rapidly growing market, offering immediate scale and long-term growth potential. The portfolio is available as a whole or individually. Interested parties should be prepared to provide proof of funds and a resume.

Highlights

  • Substantially below replacement cost at $80,000 per unit.
  • Well-maintained, contemporary loft residences with modern finishes.
  • Significant upside potential through operational improvements, amenity enhancements, and technology upgrades to reduce vacancy.
  • Excellent workforce location near major employers.
  • Exceptional scale opportunity with 121 units.
  • Free and clear of existing debt.

Property Details for 345 Front St

Property type
Residential income homes, Apartment buildings
Class
A
Buildings
4
Units
93

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.13769
Longitude
-90.058952
345 Front St, Memphis, Tennessee

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345 Front St
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