East Memphis Multifamily Portfolio
491 N Highland and 543 N Mendenhall Memphis TN
Property Map
The Offering
Summary
- Portfolio Asking Price $16,700,000
- Portfolio Number of Units 146
- Price per Unit $114,384
- Year Built 1962 & 1965
- Portfolio Land Area 9.85 ac
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SOLD AS A PORTFOLIO ONLY
High Point and Mendenhall Gardens Apartments are located near the highest income areas of Memphis and the Shelby Farms Greenline trail! Shelby Farms Greenline is a 10.65-mile paved, urban trail that connects pedestrians and cyclists in Midtown Memphis through Shelby Farms Park to Cordova. The Greenline is a rails-to-trails project that transformed an unused railroad line into one of Tennessee's favorite and green friendly trails.
High Point is adjacent to the Chickasaw Country Club and Golf Course and offers the opportunity for the astute investor to market the golf course location to upgrade the rents. Founded in 1922, Chickasaw Country Club is an exclusive classic southern golf club conveniently located in the heart of Memphis. Chickasaw offers 18 holes of golf on a newly renovated William Langford classically designed course, indoor and outdoor tennis, swimming, fitness, casual and fine dining, in a friendly social environment for its members.
Mendenhall Gardens' neighborhood is outstanding within one of the highest-income areas of East Memphis. The affluent clientele of the area makes the perfect prospects as the older affluent demographic will be scaling down to apartment living as the younger affluent renters move into the area. It is the best of both worlds.
5865 Ridgeway Center Pkwy Ste 300, Memphis, TN 38120
Phone 901-767-1998
TN Company License #256220
MS Company License #C-21186
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