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The National Macon Courts 1088 National St 15 Unit Apartment Building $1,074,000 ($71,600/Unit) 9.84% Cap Rate Memphis, TN 38122
Investment Highlights
- Central Heating & Air
- Washers & Dryers and Stoves & Refrigerators
Executive Summary
National is a 15-unit investment opportunity with a 14-unit multifamily plus a separate 3-bedroom single-family.
The units are all 2-bedrooms equipped with central heating and air, along with stoves and refrigerators.
The single-family home offers central heating and air, a stove, refrigerator, and washer and dryer for added tenant appeal.
Current scheduled gross monthly income is $10,900, providing immediate cash flow. Please do not disturb tenants, drive by only.
The units are all 2-bedrooms equipped with central heating and air, along with stoves and refrigerators.
The single-family home offers central heating and air, a stove, refrigerator, and washer and dryer for added tenant appeal.
Current scheduled gross monthly income is $10,900, providing immediate cash flow. Please do not disturb tenants, drive by only.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$147,600
|
$10.54
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$147,600
|
$10.54
|
| Taxes |
$18,900
|
$1.35
|
| Operating Expenses |
$23,056
|
$1.65
|
| Total Expenses |
$41,956
|
$3.00
|
| Net Operating Income |
$105,644
|
$7.55
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $147,600 |
| Annual Per SF | $10.54 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $147,600 |
| Annual Per SF | $10.54 |
| Taxes | |
|---|---|
| Annual | $18,900 |
| Annual Per SF | $1.35 |
| Operating Expenses | |
|---|---|
| Annual | $23,056 |
| Annual Per SF | $1.65 |
| Total Expenses | |
|---|---|
| Annual | $41,956 |
| Annual Per SF | $3.00 |
| Net Operating Income | |
|---|---|
| Annual | $105,644 |
| Annual Per SF | $7.55 |
Property Facts
| Price | $1,074,000 | Apartment Style | Low-Rise |
| Price Per Unit | $71,600 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.44 AC |
| Cap Rate | 9.84% | Building Size | 10,304 SF |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 2.91/1,000 SF |
| Zoning | C-L | ||
| Price | $1,074,000 |
| Price Per Unit | $71,600 |
| Sale Type | Investment |
| Cap Rate | 9.84% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 10,304 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 2.91/1,000 SF |
| Zoning | C-L |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Security System
- Kitchen
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 14 | $800.00 | 650 |
| 3+1 | 1 | $1,100 | 680 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 03-8049-0-0016C | Total Assessment | $153,920 (2025) |
| Land Assessment | $15,200 (2025) | Annual Taxes | $18,900 ($1.83/SF) |
| Improvements Assessment | $138,720 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
03-8049-0-0016C
Land Assessment
$15,200 (2025)
Improvements Assessment
$138,720 (2025)
Total Assessment
$153,920 (2025)
Annual Taxes
$18,900 ($1.83/SF)
Tax Year
2026
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The National Macon Courts | 1088 National St
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