Available individually or as portfolio with Forrest Cove Apts.

Shady Oaks Apartments

520 Sharon Dr., Memphis TN 38122

520 Sharon Drive | East Memphis, TN 38122

Built: 1972

Occupancy: 96%

Asking Price: $1,430,000 ($55,000/Unit)

Proforma Cap Rate: 7.25%

Proforma Cash-on-Cash Return: 7.50%

Available Individually or as a Portfolio Purchase

with the 38-Unit Forrest Cove Apartments

INVESTMENT HIGHLIGHTS

Exceptionally well-located with Value-Add Potential

Held long-term with minimal rent escalation—presenting a compelling opportunity for value enhancement and income growth via gradual mark-to-market approach or strategic interior upgrades
Ideal for repositioning with low-entry pricing, and solid proforma returns

Desirable East Memphis Location

Located in the highly sought-after East Memphis submarket, tucked away in a quiet residential neighborhood offering a peaceful setting with strong tenant appeal
Near the Summer Avenue corridor, a vibrant and rapidly growing commercial hub with notable influx of national retailers and local businesses, including major big-box retailers like Lowe's, Kroger, TJ Maxx, Ross, Big Lots, AutoZone, Public Storage, and a range of dining options like Papa John’s, Subway, and Baskin-Robbins. These established brands provide a solid foundation for continued economic vitality and foot traffic in the area.
Prime access to East Memphis’ I-240/Poplar White-Collar employment hub, home to 110,000+ jobs
Just 5 miles from Baptist Memorial Hospital campus, the flagship facility of a 21,000-employee regional health system, surrounded by dense medical facilities, clinics and medical offices infrastructure

Powerful Regional Growth Drivers

xAI’s expansion into Memphis—backed by $20–$50 billion in projected investment—places the city at the forefront of AI innovation
Local economic growth is expected to accelerate significantly through tech and infrastructure development

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Woodyard Realty Corp.

901-767.1998