Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Beacon Manor Apartments, a 72-unit value add opportunity in Memphis, TN. The Community is located with convenient access to jobs, commercial providers and all the MSA (pop. 1.4 million) has to offer. The Property is being offered free and clear of debt. VALUE-ADD OPPORTUNITY Current ownership initiated a renovation project, successfully completing over $800,000 in exterior and interior upgrades. These renovations include pitched roofs, double pane windows, siding, interior and exterior paint, appliances, LVP flooring, light fixtures, hardware, cabinets, and countertops. Beacon Manor offers investors the opportunity to capture significant upside by continuing the demonstrated in-place value add program and bringing the asset to stabilization. RENOVATED RENT PREMIUM ANALYSIS New on-site leases demonstrate a $150-$200 rent premium is available for renovated units. Additionally, a market comparable study supports demand for renovated units consistent with the on-site rent premiums achieved. PROXIMITY TO JOBS AND ACCESS TO ENTIRE MSA Beacon Manor is strategically located near some of the most prominent employers in the state. Its close proximity to FedEx, the second-largest employer in Tennessee, Nike North America Logistics Campus (900+ employees), the world's largest Nike distribution center, Amazon Fulfillment Center (1,000+ employees), positions it as a highly sought-after location. The close proximity to employment opportunities ensures consistent demand for housing in the sub-market.