REO Sale – Sunrise Terrace | 112-Units | Memphis MSA

$500,000 Starting Bid

Auctioneer: Lamar P. Fisher

Auctioneer Company: Fisher Auction Company Inc.

RealINSIGHT Marketplace, in partnership with Matthews Auction Services, is pleased to present Sunrise Terrace Apartments, a 112-unit multifamily asset located in the heart of Memphis, TN. Offered at a compelling cost basis, the property presents an immediate value-add opportunity, with current occupancy well below stabilized levels and average in-place rents trailing nearby comparables by a meaningful margin. Sunrise Terrace sits within Memphis' core logistics and transportation corridor, less than a mile from Memphis International Airport and minutes from FedEx's Global Hub, Nike, Amazon, and AutoZone's headquarters, employers that together anchor tens of thousands of direct jobs. That proximity, combined with the surrounding retail and grocery amenity base, positions the asset to capture strong renter demand as it stabilizes. Memphis' economy remains firmly rooted in logistics, manufacturing, and healthcare, supporting a resilient labor market and a positive outlook for rent growth. Future ownership stands to benefit from this robust local economy and the opportunity to acquire Sunrise Terrace at a heavily discounted basis relative to its lease-up potential.

Efficient, Manageable 112-Unit Scale:

A right-sized footprint enables streamlined, cost-efficient operations and management.

Premier Airport-Adjacent Positioning:

Less than 1.0 mile from Memphis International Airport, a major regional employment driver.

Central Memphis Logistics Zone Address:

Sits within Memphis' core logistics and transportation zone, near sustained tenant demand.

High-Impact Lease-Up Growth Opportunity:

Current occupancy of 50% creates an immediate path to drive absorption and NOI growth.

Attractive, Discounted In-Place Income:

Average in-place rents of $760 provide a solid income baseline with room to push revenue.

Clear, Compelling Rent Growth Upside Gap:

Nearby comparable properties achieve $825+ average rents, supporting meaningful upside.