Woodland Station Condos
3455 Pruett Court, Memphis TN 38111
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The Offering
Summary
- Price $6,240,000
- Price per unit $120,000
- Gross Sq Ft (approx) 54,600
- Price PSF $114.29
- Roof Pitched, comp. shingles
- Number of Units 52
- Year built 1972
- Number of buildings 7
- Number of stories 2
- Utilities Tenant pays all except water, sewer, common electric (pd by HOA)
Walking distance to the University of Memphis, the FedEx Technology Center, The University Holiday Inn, the new Highland Strip entertainment district, the new multimillion athletic center, and the recently renovated $30M Leftwich Tennis Center - named by USTA as a Featured Facility of the Year. This area is changing fast!
Spacious two-story condo townhomes featuring refrigerator, stove, disposal, dishwasher, three large walk-in closets, and private patios with common laundry area. Fenced and gated parking with tons of interior and exterior upgrades taking this property to the next level!
Under the careful guidance of ownership and management, the rents have recently moved from an average of $718 per month in the area to $1,295 at the subject property! Approximately 20 more apartments can be upgraded to the $1,295 rents with minor improvements. The owner is moving on and leaving the remaining upside for you - local management would like to stay in place making this an easy transition.
**NOTE - 692 Hobbs in Woodland Station is also up for sale by a different owner. See our listings page.**
Proforma Year 1
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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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