Kimball Cabana Apartments 2856 Kimball Ave Immeuble residentiel 245 lots 4 689 318 € (19 140 €/Lot) Memphis, TN 38114

The property presents a unique investment opportunity, with a 9.3-acre multifamily property located along Kimball Avenue in Memphis, TN. This community features 30 two-story apartment buildings and a dedicated single-story community building, originally constructed in 1964 and poised for a transformative repositioning.
The property comprises 245 total residential units, offering approximately 171,000 square feet of net rentable area. With a strong unit mix, this asset is well-suited for modern upgrades to maximize rental income and long-term value.
The property features convenient access via three asphalt-paved driveways, including two entrances along Kimball Avenue and one on Haynes Street. Residents enjoy the convenience of 364 on-site parking spaces, providing ample parking availability for every unit and enhancing overall accessibility.
This is an exceptional value-add opportunity for investors seeking to revitalize and reposition a sizable multifamily asset in a well-established Memphis neighborhood. With substantial rehabilitation, this property has the potential to deliver strong returns through increased occupancy and operational efficiency.
Memphis continues to face a significant shortage of affordable housing options, with many working families and individuals struggling to find quality, reasonably priced rental units. This shortage has been amplified by rising rents, creating a critical demand for well-maintained, affordable multifamily communities.
Kimball Cabana is uniquely positioned to help address this urgent need. With its diverse unit mix, the property can serve as a vital resource for low- and moderate-income households seeking safe, affordable, and comfortable homes. Renovating and repositioning this community will not only unlock its value-add potential for investors but also contribute meaningfully to expanding Memphis’s affordable housing inventory—supporting local economic stability and community revitalization efforts.