Multifamily

Oakwood Meadows Estates

4583 Airways Blvd, Memphis, TN 38116

Listing Price: $3,800,000

Cap Rate
8.05%
Number of Units
68
GRM
7.86
Occupancy
98.4%
Price/Unit
$55,882
Price/Gross SF
$56.84
Gross SF
66,852

Investment Overview

Marcus & Millichap is pleased to present for sale, the Oakwood Meadows Estates. The Oakwood Meadow Estates is being offered for $3.8 Million or a 8.05 percent cap rate on current income. This property is ideal for an investor who is looking to acquire an asset that not only is generating generous cash flows but also does not need a lot of hands-on management from the potential owner. The current owner has maintained a below market expense-to-income ratio at 35.2 percent. Current physical occupancyisat99 percent. There is one vacant unit at this time.
Oakwood Meadows Estates Apartments is an eight-building apartment community consisting of 56 two-bedroom/one-bath units and 12 three-bedroom/two-bath units, totaling 68 rental units. The property sits on a parcel lot of 157,295 square feet and is zoned RU-3. Each unit has central heating and cooling and is separately metered for both gas and electricity. The current ownership has done a good job maintaining the property, and as a result there is little deferred maintenance. With regard to comparable properties in the area, the exterior of the Oakwood Meadows Estates are in above average condition and the interior units have all been well maintained.
The great location of the property helps provide its residents with many of the services and multiple employment opportunities that Memphis, Tennessee and the surrounding counties have to offer. The quiet Oakwood Meadows Estates community has quick and convenient access to Memphis International Airport, downtown Memphis, the state of Mississippi and Interstates 55, 40 and 240. With in place renovations and below market rents of over $100, Oakwood Manor Estates is positioned for a new investor to bump rents and increase NOI by at least $40,800 without having to invest any capital.

Investment Highlights

  • Stabilized Asset In Rapid Organic Rent Growth Submarket
  • Immediate Upside Potential Of Over $50 Per Unit
  • Initial Cash-On-Cash Return of 8.05 Percent
  • Year One Pro Forma Cap Rate of 10.05 Percent
  • High Historical Occupancy
  • Each individual Building has been Completely Renovated

Exclusively Listed By

Multifamily

Oakwood Meadows Estates

Listing Price: $3,800,000

Cap Rate
8.05%
Number of Units
68
GRM
7.86
Occupancy
98.4%
Price/Unit
$55,882
Price/Gross SF
$56.84
Gross SF
66,852

Investment Highlights

  • Stabilized Asset In Rapid Organic Rent Growth Submarket
  • Immediate Upside Potential Of Over $50 Per Unit
  • Initial Cash-On-Cash Return of 8.05 Percent
  • Year One Pro Forma Cap Rate of 10.05 Percent
  • High Historical Occupancy
  • Each individual Building has been Completely Renovated

Investment Overview

Marcus & Millichap is pleased to present for sale, the Oakwood Meadows Estates. The Oakwood Meadow Estates is being offered for $3.8 Million or a 8.05 percent cap rate on current income. This property is ideal for an investor who is looking to acquire an asset that not only is generating generous cash flows but also does not need a lot of hands-on management from the potential owner. The current owner has maintained a below market expense-to-income ratio at 35.2 percent. Current physical occupancyisat99 percent. There is one vacant unit at this time.
Oakwood Meadows Estates Apartments is an eight-building apartment community consisting of 56 two-bedroom/one-bath units and 12 three-bedroom/two-bath units, totaling 68 rental units. The property sits on a parcel lot of 157,295 square feet and is zoned RU-3. Each unit has central heating and cooling and is separately metered for both gas and electricity. The current ownership has done a good job maintaining the property, and as a result there is little deferred maintenance. With regard to comparable properties in the area, the exterior of the Oakwood Meadows Estates are in above average condition and the interior units have all been well maintained.
The great location of the property helps provide its residents with many of the services and multiple employment opportunities that Memphis, Tennessee and the surrounding counties have to offer. The quiet Oakwood Meadows Estates community has quick and convenient access to Memphis International Airport, downtown Memphis, the state of Mississippi and Interstates 55, 40 and 240. With in place renovations and below market rents of over $100, Oakwood Manor Estates is positioned for a new investor to bump rents and increase NOI by at least $40,800 without having to invest any capital.

Exclusively Listed By

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