tn-prop-2

2880 Beverly Hills Road, Memphis TN                          5006 Cobalt Cove, Memphis, TN

         
131 Units

Strategic Holdings acquired the Cedarwood Apartments, an 80 unit apartment complex, and Sunridge Townhomes, a 52 unit townhome style complex on October 30, 2014 for $3,200,000. The property was fully stabilized at the time of purchase with occupancies over 90% and little to no deferred maintenance. The property was sold on November 30, 2017 for $5,400,000. 

DETAILS

Sales Price: $5,400,000
Acquisition Price: -$3,200,000
Costs: -$831,000
Profit: $1,369,000