Multifamily

Pacifica Apartments

1297 Willie Mitchell Blvd, Memphis, TN 38106

Listing Price: $429,000

Cap Rate
5.11%
Number of Units
34
GRM
2.17
Occupancy
26.00%
Price/Unit
$12,618
Price/Gross SF
$19.03
Gross SF
22,548

Investment Overview

Marcus & Millichap is please to present for sale, Pacifica Apartments, located in the South Memphis submarket of Memphis, Tennessee. The property consists of an on site convenience store, 32 two bedroom/one-bath apartment units and 1 one-bedroom/one-bath apartment unit for a total of 34 units.
Currently, the property is 75 percent vacant which allows investors to complete this value-add opportunity at a time with some cash flow. Owner financing is available for this property.

Investment Highlights

  • Current 25 Pecent Occupancy Allows Completion of Complex at a Time With Cash Flow
  • Price Per Square Foot: $19.03
  • Cap Rate 5.11 Percent
  • Price Per Unit: $12,618
  • Significant Value-Add Opportunity
  • Below Market Rents and Occupancy

Exclusively Listed By

Listing Price: $429,000

Cap Rate
5.11%
Number of Units
34
GRM
2.17
Occupancy
26.00%
Price/Unit
$12,618
Price/Gross SF
$19.03
Gross SF
22,548

Investment Highlights

  • Current 25 Pecent Occupancy Allows Completion of Complex at a Time With Cash Flow
  • Price Per Square Foot: $19.03
  • Cap Rate 5.11 Percent
  • Price Per Unit: $12,618
  • Significant Value-Add Opportunity
  • Below Market Rents and Occupancy

Investment Overview

Marcus & Millichap is please to present for sale, Pacifica Apartments, located in the South Memphis submarket of Memphis, Tennessee. The property consists of an on site convenience store, 32 two bedroom/one-bath apartment units and 1 one-bedroom/one-bath apartment unit for a total of 34 units.
Currently, the property is 75 percent vacant which allows investors to complete this value-add opportunity at a time with some cash flow. Owner financing is available for this property.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower