MEMPHIS, TENN. — Marcus & Millichap has arranged the sale of Ashton Hills Apartments, a 200-unit complex in Memphis. Bryan Sisk, David Dorris and Brad Barham of Marcus & Millichap represented the seller, an Iowa-based limited liability company. The team also secured the buyer, an investment group out of Denver. The sales price was not disclosed.
Built in 1975, Ashton Hills offers one-, two- and three-bedroom floorplans with a unit size range of 580 to 1,044 square feet. Unit features include washer and dryer hookups, vinyl flooring and walk-in closets. Community amenities include a pool, package service, maintenance onsite, property manager onsite, business center and a playground. The seller previously made significant upgrades to the property, according to Marcus & Millichap.
Located at 4183 Troost Drive on 12.6 acres, Ashton Hills is situated 20.6 miles from Memphis International Airport and 13.9 miles from downtown Memphis.