The Memphis is a 13-storey mid-rise residential condominium built in 1992 by Menkes Developments Ltd. The building contains 268 units and represents solid mid-market housing stock in the Annex. It's a concrete structure typical of early 1990s Toronto development, designed for residential comfort rather than luxury finishes. The building includes a concierge and security team on-site, along with visitor parking available for guests. Common amenities include a rooftop terrace, party room, and sauna, making it suitable for residents who value both private space and shared facilities.

The Annex is one of Toronto's most established and walkable neighbourhoods, anchored by the University of Toronto to the west and Bloor Street to the north. The immediate area offers abundant restaurants, cafes, bookstores, and independent shops along Bloor and Bathurst. Transit is a major strength here, with the Spadina subway line at Spadina station providing direct access to downtown, and multiple streetcar routes on Bloor and Bathurst offering cross-town connections. The neighbourhood is primarily residential with a strong student and young professional presence, balanced by longer-term residents and families. Parks including Casa Loma grounds and the University's green spaces are nearby, making this a genuinely walkable urban location.

Units at The Memphis average around 650 square feet, typically configured as 2-bedroom homes, though the building likely includes some 1-bedroom and 3-bedroom options as well. Current rental rates average $2,250 per month, reflecting the Annex's established rental market. As a 30-year-old building, prospective buyers should review the condo's current reserve fund study and recent capital improvements, which are standard documents any real estate agent can provide. The building includes parking, which is valuable in this neighbourhood where street parking can be tight. Before purchasing or renting, ask about maintenance fees, the current reserve fund status, and any upcoming major repairs. The concierge and security services add to monthly costs but can appeal to those who value convenience and safety.