Graceland Pointe Apartments

1984 Bonnie Dr & 1938 E Raines Rd. Memphis TN 38116

The Offering

Summary

  • Purchase price $13,200,000
  • Price per unit $71,739.13
  • Number of units 184
  • Gross sq ft 140,260
  • Year built 1968
  • Number of buildings 24
  • Number of stories 2
  • Land area 8.27 ac

Currently finalizing renovation!  


Perfectly located so children can walk to three different schools. Close to jobs and employment like Graceland, the Airport Industiral Park, Memphis’s largest employment center, FedEx World Hub, several Amazon facilities along with shopping, and easy access to Interstate 55. 


Completed renovation offers new black appliances, countertops, laminate hardwood floors, huge closets, living area, and onsite laundry facility. 

Proforma Year 1

Gross Scheduled Income: $1,881,757

Net Operating Income: $1,145,757
Cap Rate: 8.7%

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Listing Agent

Steve Woodyard, CCIM

Steve Woodyard, CCIM

President
Woodyard Realty Corp.
TN 217464
office 901.767.1998
mobile 901.277.7731
Woodyard Realty Corp.
5865 Ridgeway Center Pkwy Ste 300, Memphis, TN 38120
Phone 901-767-1998
TN Company License #256220
MS Company License #C-21186