Cordova Creek

Description

Cordova Creek Apartments consists of 196 units in Memphis, Tennessee which has a metro area population of about 1.4 million. The property is located in the City’s northeast corner, near residential, manufacturing, retail and healthcare employment centers. This area is in demand for singles and young families within a good school district. The property was constructed in 1986. Previous owners made substantial capital improvements to the clubhouse, pool, grounds and fitness center. This investment is expected to generate average annual cash on cash yields of 9.10%.

City
Memphis
State
Tennessee
Aquisition date
August 2018
Number of units
196
Surface area
74121.5 m2
Fair value
Mio USD