Parkside Poplar Apartments
Closed for Invesment
Parkside, a 20-unit multifamily property located at 1969-1973 Poplar St. and 154 Rembert St., in Memphis, Tennessee.
Resident population currently includes students from Memphis Academy of Art (MCA). MCA is selling the Property and will lease the Property back from the Company at $20,000 per month, including utilities, through May 2020. At lease renewal, the Company can pass the utilities to tenants, which will increase income, thereby increasing the value of the Property. The Company has the option to rent the property as student housing or as apartments at higher rents are adjust to meet demand.
Parkside is located in Midtown Memphis, minutes away from two private universities and a thriving medical area, ensuring an ample base of renters from the student and workforce population.