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Monthly Rent
$995 - $1,195
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Bedrooms
Studio - 1 bd
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Bathrooms
1 ba
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Square Feet
541 - 621 sq ft
Drawing inspiration from the building’s previous incarnations, the redevelopment breathes a new life into the building as a multifaceted development, uniting Memphians with a common interest. We are delighted to offer forty apartments, commercial offices, a number of amenities at street-level, and space for collaboration and congregation. The Commonwealth has modern kitchens & baths, in-unit laundry, wide open spaces and stately windows. Each unit has original floors, functional windows, authentic plaster & brick walls, unique structural ceilings & columns. The Commonwealth offers private, on-site parking, Indoor & outdoor gathering places, and is equipped with multiple high-speed, smart elevators. On-site storage, a bike shed, a fitness room and a dog wash area are available for all residents.
Highlights
- Walker's Paradise
- English and Spanish Speaking Staff
- Hearing Impaired Accessible
- Pet Washing Station
- Walk-In Closets
- Office
- Controlled Access
- Island Kitchen
- Elevator
Pricing & Floor Plans
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Unit 308price $995square feet 541availibility Now
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Unit 308price $995square feet 541availibility Now
Fees and Policies
The fees below are based on community-supplied data and may exclude additional fees and utilities.
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One-Time Basics
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Due at Application
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Application Fee Per ApplicantCharged per applicant.$50
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Due at Application
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Dogs
Max of 2, 60 lbs. Weight Limit
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Cats
Max of 2
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Garage LotPer month
Property Fee Disclaimer: Based on community-supplied data and independent market research. Subject to change without notice. May exclude fees for mandatory or optional services and usage-based utilities.
Details
Utilities Included
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Water
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Trash Removal
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Sewer
Lease Options
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12 - 24 Month Leases
Property Information
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Built in 2018
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40 units/8 stories
Matterport 3D Tours
About The Commonwealth
Drawing inspiration from the building’s previous incarnations, the redevelopment breathes a new life into the building as a multifaceted development, uniting Memphians with a common interest. We are delighted to offer forty apartments, commercial offices, a number of amenities at street-level, and space for collaboration and congregation. The Commonwealth has modern kitchens & baths, in-unit laundry, wide open spaces and stately windows. Each unit has original floors, functional windows, authentic plaster & brick walls, unique structural ceilings & columns. The Commonwealth offers private, on-site parking, Indoor & outdoor gathering places, and is equipped with multiple high-speed, smart elevators. On-site storage, a bike shed, a fitness room and a dog wash area are available for all residents.
The Commonwealth is an apartment community located in Shelby County and the 38103 ZIP Code. This area is served by the Shelby County Schools attendance zone.
Contact
Video Tours
For your convenience, we provide Zoom site tours upon request.
Community Amenities
Fitness Center
Elevator
Controlled Access
Recycling
- Wi-Fi
- Controlled Access
- 24 Hour Access
- Hearing Impaired Accessible
- Recycling
- Health Club Discount
- Pet Washing Station
- Key Fob Entry
- Elevator
- Multi Use Room
- Storage Space
- Vintage Building
- Fitness Center
- Bicycle Storage
- Courtyard
- Grill
Apartment Features
Washer/Dryer
Air Conditioning
Dishwasher
Washer/Dryer Hookup
High Speed Internet Access
Walk-In Closets
Island Kitchen
Granite Countertops
Indoor Features
- High Speed Internet Access
- Washer/Dryer
- Washer/Dryer Hookup
- Air Conditioning
- Heating
- Smoke Free
- Cable Ready
- Security System
- Trash Compactor
- Storage Space
- Tub/Shower
- Wheelchair Accessible (Rooms)
Kitchen Features & Appliances
- Dishwasher
- Disposal
- Ice Maker
- Granite Countertops
- Stainless Steel Appliances
- Pantry
- Island Kitchen
- Eat-in Kitchen
- Kitchen
- Microwave
- Oven
- Range
- Refrigerator
- Freezer
- Instant Hot Water
Model Details
- Dining Room
- Office
- Views
- Walk-In Closets
- Double Pane Windows
- Window Coverings
- Wi-Fi
- Controlled Access
- 24 Hour Access
- Hearing Impaired Accessible
- Recycling
- Health Club Discount
- Pet Washing Station
- Key Fob Entry
- Elevator
- Multi Use Room
- Storage Space
- Vintage Building
- Courtyard
- Grill
- Fitness Center
- Bicycle Storage
- High Speed Internet Access
- Washer/Dryer
- Washer/Dryer Hookup
- Air Conditioning
- Heating
- Smoke Free
- Cable Ready
- Security System
- Trash Compactor
- Storage Space
- Tub/Shower
- Wheelchair Accessible (Rooms)
- Dishwasher
- Disposal
- Ice Maker
- Granite Countertops
- Stainless Steel Appliances
- Pantry
- Island Kitchen
- Eat-in Kitchen
- Kitchen
- Microwave
- Oven
- Range
- Refrigerator
- Freezer
- Instant Hot Water
- Dining Room
- Office
- Views
- Walk-In Closets
- Double Pane Windows
- Window Coverings
| Monday | 9am - 6pm |
|---|---|
| Tuesday | 9am - 6pm |
| Wednesday | 9am - 6pm |
| Thursday | 9am - 6pm |
| Friday | 9am - 6pm |
| Saturday | 10:30am - 6pm |
| Sunday | Closed |
Downtown Memphis, also known as Downtown Riverside, rests along the banks of the mighty Mississippi River. Downtown Memphis is the city’s central business district, serving as an incubator for good ideas and great collaborations between established companies and rising startups.
History and entertainment abound in Downtown Mississippi, from the blues and soul clubs that line Beale Street to the powerful exhibits in the National Civil Rights Museum. The Rock n Soul Museum features interactive exhibits detailing the birth of rock and soul music while the Orpheum Theatre presents an array of musical and theatrical performances.
Downtown Memphis residents enjoy a broad range of cuisine, from down-home barbecue to Southern-inspired fine dining. The sense of community in Downtown Memphis is unparalleled, with plenty of cultural events bringing people together on a regular basis.
Learn more about living in Downtown Memphis| Colleges & Universities | Distance | ||
|---|---|---|---|
| Colleges & Universities | Distance | ||
| Walk: | 18 min | 0.9 mi | |
| Walk: | 18 min | 0.9 mi | |
| Drive: | 8 min | 4.2 mi | |
| Drive: | 9 min | 4.4 mi |
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Data provided by GreatSchools.org © 2026. All rights reserved.
The Commonwealth Photos
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The Commonwealth
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Fitness Center
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1 BR, 1 BA - The Whitman
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1 BR, 1 BA - The Whitman
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Lobby Elevators
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2 BR, 2 BA - The Downtown Suite
Nearby Apartments
Within 50 Miles of The Commonwealth
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Pressbox Lofts
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Lofts at Merchant Row
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Museum Lofts
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Overton Garden Apartments
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Oak Grove Flats
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The Commonwealth has units with in‑unit washers and dryers, making laundry day simple for residents.
Select utilities are included in rent at The Commonwealth, including water, trash removal, and sewer. Residents are responsible for any other utilities not listed.
The Commonwealth has studios to one-bedroom with rent ranges from $995/mo. to $1,195/mo.
Yes, The Commonwealth welcomes pets. Breed restrictions, weight limits, and additional fees may apply. View this property's pet policy.
A good rule of thumb is to spend no more than 30% of your gross income on rent. Based on the lowest available rent of $995 for a studio, you would need to earn about $36,000 per year to qualify. Want to double-check your budget? Try our Rent Affordability Calculator to see how much rent fits your income and lifestyle.
The Commonwealth is offering Specials for eligible applicants, with rental rates starting at $995.
Yes! The Commonwealth offers 4 Matterport 3D Tours. Explore different floor plans and see unit level details, all without leaving home.
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
What is a Sound Score Rating?
A Sound Score Rating aggregates noise caused by vehicle traffic, airplane traffic and local sources
240 Madison Ave
Memphis, TN 38103
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