Multifamily
Auction - Memphis Single Family Rental Portfolio | Double Digit Cap Rate | 17 Homes
934 Alaska St, Memphis, TN 38107
Listing Price: $200,000
Investment Overview
Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace
View Now: https://rimarketplace.com/auction/1414/memphis-single-family-rental-portfolio-double-digit-cap-rate-17-homes?utm_source=costar&utm_medium=listing&utm_campaign=multifamily_1414
Marcus & Millichap and RI Marketplace are proud to offer an ±82% occupied portfolio of 17 single family homes in Memphis, Tennessee (the “Portfolio”) for purchase. With a stable in-place income-stream, this Portfolio presents investors with an excellent opportunity to acquire cash-flowing residential income assets that are both generating income and offering future upside opportunities through mark-to-market renewals and continued modernization.
Memphis Residential Income Portfolio consists of 17 single family homes totaling ±18,243 square feet in the city of Memphis. The Portfolio contains one (1) 4 bedroom/2 bathroom unit, one (1) 4 bedroom/1 bathroom unit, five (5) 3 bedroom/2 bathroom units, six (6) 3 bedroom/1 bathroom units, and four (4) 1 bedroom/1 bathroom units. Currently ±82.35% occupied, Memphis Residential Income Portfolio offers significant upside vial via modernized capital improvements, aggressive lease-up at market rates, and hands-on management. Market rents in the submarket average $500 (1 bedroom) and $992 (3 bedrooms) per month allowing for significant value add through increased rents upon tenant expirations. Besides generating cash flow and having very low vacancy rates, these single family homes also have the strong potential for appreciation over time. The locations of these properties allow you to diversify in different parts of the Memphis Metro Area.
The Portfolio is located in Memphis and centered east of Downtown and north of Memphis International Airport. The Portfolio is proximate to employment centers, retail, and entertainment options, major roadways, and the surrounding developments are experiencing stable levels of demand. The Portfolio is an exceptional opportunity to own a package of 17 well-located and cash-flowing rental units in the Memphis metro area, offering a lucrative investment opportunity with multiple exit strategies for the new owner.
Property Address Bed/Bath
934 Alaska Street, Memphis, TN 38107 3 Bed/2 Bath
937 Speed Street, Memphis, TN 38107 3 Bed/1 Bath
1143 National Street, Memphis, TN 38122 3 Bed/2 Bath
1153 Dunnavant Street, Memphis, TN 38106 3 Bed/1 Bath
1181 Coker Street, Memphis, TN 38107 4 Bed/1 Bath
1299 Dunnavant Street, Memphis, TN 38106 3 Bed/1 Bath
1621 Oakwood Street, Memphis, TN 38108 1 Bed/1 Bath
1623 Oakwood Street, Memphis, TN 38108 1 Bed/1 Bath
2483 Vandale Avenue, Memphis, TN 38108 4 Bed/2 Bath
2851 Carnes Avenue, Memphis, TN 38114 3 Bed/2 Bath
3119 Allison Street, Memphis, TN 38112 3 Bed/1 Bath
3198 Millwood Street, Memphis, TN 38109 3 Bed/1 Bath
3220 Choctaw Avenue, Memphis, TN 38111 1 Bed/1 Bath
3222 Choctaw Avenue, Memphis, TN 38111 1 Bed/1 Bath
3855 Glencoe Drive, Memphis, TN 38115 3 Bed/2 Bath
4530 Beacon Hill, Memphis, TN 38127 3 Bed/1 Bath
10464 E. Holmes Rd., Memphis, TN 38017 3 Bed/2 Bath
Investment Highlights
- STARTING BID $200,000 | Double Digit Cap Rate | 17 Homes | AUCTION OCTOBER 16-18, 2023
- Residential Income Portfolio of 17 Single Family Homes in Memphis, TN
- 82% Occupied SFR Portfolio with Significant Rental Upside as Leases Expire, Several are Below Market Rent
- Unit Mix Comprises 2 Four-Bedroom SFR, 11 Three-Bedroom SFR, and 4 One-Bedroom Properties
- Multiple Owner Exit Strategies – Hold as Rentals, Sell to Owner-Occupant Retail Buyers, Sell as Lease-to-Own Properties
- Average In-Place Rental Rate of $628/Month with an Average Upside of $90+/Month
- Great Location Diversity across Memphis Metro Area
Exclusively Listed By
Broker of Record
Multifamily
Auction - Memphis Single Family Rental Portfolio | Double Digit Cap Rate | 17 Homes
Listing Price: $200,000
Investment Highlights
- STARTING BID $200,000 | Double Digit Cap Rate | 17 Homes | AUCTION OCTOBER 16-18, 2023
- Residential Income Portfolio of 17 Single Family Homes in Memphis, TN
- 82% Occupied SFR Portfolio with Significant Rental Upside as Leases Expire, Several are Below Market Rent
- Unit Mix Comprises 2 Four-Bedroom SFR, 11 Three-Bedroom SFR, and 4 One-Bedroom Properties
- Multiple Owner Exit Strategies – Hold as Rentals, Sell to Owner-Occupant Retail Buyers, Sell as Lease-to-Own Properties
- Average In-Place Rental Rate of $628/Month with an Average Upside of $90+/Month
- Great Location Diversity across Memphis Metro Area
Investment Overview
Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace View Now: https://rimarketplace.com/auction/1414/memphis-single-family-rental-portfolio-double-digit-cap-rate-17-homes?utm_source=costar&utm_medium=listing&utm_campaign=multifamily_1414 Marcus & Millichap and RI Marketplace are proud to offer an ±82% occupied portfolio of 17 single family homes in Memphis, Tennessee (the “Portfolio”) for purchase. With a stable in-place income-stream, this Portfolio presents investors with an excellent opportunity to acquire cash-flowing residential income assets that are both generating income and offering future upside opportunities through mark-to-market renewals and continued modernization. Memphis Residential Income Portfolio consists of 17 single family homes totaling ±18,243 square feet in the city of Memphis. The Portfolio contains one (1) 4 bedroom/2 bathroom unit, one (1) 4 bedroom/1 bathroom unit, five (5) 3 bedroom/2 bathroom units, six (6) 3 bedroom/1 bathroom units, and four (4) 1 bedroom/1 bathroom units. Currently ±82.35% occupied, Memphis Residential Income Portfolio offers significant upside vial via modernized capital improvements, aggressive lease-up at market rates, and hands-on management. Market rents in the submarket average $500 (1 bedroom) and $992 (3 bedrooms) per month allowing for significant value add through increased rents upon tenant expirations. Besides generating cash flow and having very low vacancy rates, these single family homes also have the strong potential for appreciation over time. The locations of these properties allow you to diversify in different parts of the Memphis Metro Area. The Portfolio is located in Memphis and centered east of Downtown and north of Memphis International Airport. The Portfolio is proximate to employment centers, retail, and entertainment options, major roadways, and the surrounding developments are experiencing stable levels of demand. The Portfolio is an exceptional opportunity to own a package of 17 well-located and cash-flowing rental units in the Memphis metro area, offering a lucrative investment opportunity with multiple exit strategies for the new owner. Property Address Bed/Bath 934 Alaska Street, Memphis, TN 38107 3 Bed/2 Bath 937 Speed Street, Memphis, TN 38107 3 Bed/1 Bath 1143 National Street, Memphis, TN 38122 3 Bed/2 Bath 1153 Dunnavant Street, Memphis, TN 38106 3 Bed/1 Bath 1181 Coker Street, Memphis, TN 38107 4 Bed/1 Bath 1299 Dunnavant Street, Memphis, TN 38106 3 Bed/1 Bath 1621 Oakwood Street, Memphis, TN 38108 1 Bed/1 Bath 1623 Oakwood Street, Memphis, TN 38108 1 Bed/1 Bath 2483 Vandale Avenue, Memphis, TN 38108 4 Bed/2 Bath 2851 Carnes Avenue, Memphis, TN 38114 3 Bed/2 Bath 3119 Allison Street, Memphis, TN 38112 3 Bed/1 Bath 3198 Millwood Street, Memphis, TN 38109 3 Bed/1 Bath 3220 Choctaw Avenue, Memphis, TN 38111 1 Bed/1 Bath 3222 Choctaw Avenue, Memphis, TN 38111 1 Bed/1 Bath 3855 Glencoe Drive, Memphis, TN 38115 3 Bed/2 Bath 4530 Beacon Hill, Memphis, TN 38127 3 Bed/1 Bath 10464 E. Holmes Rd., Memphis, TN 38017 3 Bed/2 Bath
Exclusively Listed By
Broker of Record

