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850 Ridge Lake Blvd., Suite 220
Memphis, TN 38120
Center Court Apartments
288 Center Street | Collierville, TN 38017
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Property Details:
  Status: Sold  
  Area: East  
  Property Type: Multi-Family  
  Price: $1,160,000  
  # of units: 30  
 
  Occupancy: 96%  
  Price/Unit: $38,666.67  
  Cap Rate: 7.4  
 
  Year Built: 1966  
  Year Renovated:   
  Taxes: $15,746.00  
  Insurance: $8,250.00  
  Roof: roof  

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Property Information (8 files)
Unit Sizes & Rent Rates
Property Financials

Listing Agent
Steve Woodyard
901.842.5320
steve@woodyardrealty.com

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Description:
Rare opportunity to invest in an affluent City with low taxes and exceptional job growth opportunities. 7.4% cap rate based on 2012 actual NOI. The apartment community is located on Center Street in Collierville which is to be the new front door of the Historic Town Square. New water park and park for sports behind the property plus a new middle school nearby. All units are two bedroom except one unit which was converted to a one bedroom allowing other side to be used for storage.
Location:
Collierville is a town located in Shelby County, Tennessee and a suburb of the Memphis metropolitan area. Collierville was chosen as one of Relocate-America's Top 100 Places to Live in 2008. Job growth from 2000 to 2006 was 12.06%. It is an affluent (median household income: $79,259) with average home values a bit higher than average for the Memphis area at $191,500.
Think Memphis. Think apartments. Think Woodyard Realty.

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Memphis Fact
Memphis Regional Chamber received an honorable mention in Site Selection Magazine as one of the top economic development groups in the nation. (Source:Commercial 05.20.08)
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