Recently Renovated Apartment Complex with market leases ordered sold by absentee owner.  Great opportunity for investment, 1031 exchange or owner-operators. 

The Crossings at Overton is a 52 unit multi-family apartment complex located only a few miles north of the heart of downtown Memphis, Tennessee.  Renovated in 2004-05 this complex is ready for new ownership.  It qualifies for subsidized tenants, currently though it is leased at market rate. 

Each unit is comprised of two spacious bedrooms, a full bathroom, kitchen, dining room/living room and plenty of storage.  The complex currently has an occupancy rate of 71% and trending upwards.  This offering is a tremendous real estate investment opportunity.  The current out of state owners have implemented tremendous effort to revitalize this complex into a comfortable and safe place to live.  You can take advantage of their hard work and continue this tradition of excellence. 

Each tenant is on a year long lease and each pays their utilities.  Along with spacious living accommodations, the complex has a laundry facility, on-site maintenance personnel, on-site security personnel, and a leasing manager.  One unit serves as a model apartment for prospective tenants.  The complex is totally fenced to add to the security and privacy enjoyed by the tenants.

Affordable housing is still in demand in this geographical area; with local, state and federal rental subsidies available to the new owner.  Due to the dedication of the owner and hard work of the management company the occupancy rate has been growing strongly for all of 2006.  Upside is still available without the problems generally associated with renovation expenses.  Buy today at your price and make this project your cash cow!  This opportunity to own a solid income producing property is one you can take advantage of on Friday, November 17, 2006.