Out of State

Memphis TN 55+ independent living community on a 7-acre lot with seven buildings/cottages and a total capacity of 130 units. value-add opportunity due to fire damage took 65/130 units offline. Approximately $3.5M in capex already completed. construction 60% completed. materials to finish already on site/included. Located next to a top-rated senior community. 10-year tax abatement in place. Current rental revenue is $450K, with potential to reach $2.8M. Asking price is $3.8M cash only. seller financing up to 1.5M at 4M.