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1393 Lapaloma Street
Memphis, TN 38114
Asking Price
$3.55M
Asset Type
Apartment Building Retail
Class
Class B
What's Special
Workforce housing with proven upside <p><strong style="color: rgba(33, 37, 41, 1)">Proven Value-Add with Remaining Upside - </strong><span style="color: rgba(33, 37, 41, 1)">Nearly $250,000 in capital improvements since 2023 has increased rents from the low-$600s to $750-$800 on renovated two-bedroom units while driving NOI growth of over 130%.</span></p><p><span style="color: rgba(33, 37, 41, 1)"> </span></p><p><strong style="color: rgba(33, 37, 41, 1)">Two-Bedroom Concentration with Rent & Lease-Up Upside - </strong><span style="
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NOI
$80,000
Cap Rate
2.25%
DSCR
0.38
Underwater
Cash-on-Cash
-12.28%
Monthly Payment
$17,563.463
Annual Cash Flow
$-130,761.557
