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Idlewood Apartments 1695 Ontario Ave 25 Unit Apartment Building $1,795,000 ($71,800/Unit) Memphis, TN 38127
Executive Summary
This completely renovated 25-unit apartment complex has undergone comprehensive upgrades. All renovations were executed to high standards with exceptional attention to detail. Improvements include new roofing, luxury vinyl plank flooring, updated electrical panels, upgraded water and sewer lines, and energy-efficient windows.
Onsite laundry facilities are available to enhance tenant convenience.
The property is situated near several modern developments, including a newly completed 30,000-square-foot community center, an advanced library currently under construction, and a new high school — the first of its kind in fifty years. The area also features numerous recently restored and newly constructed residential homes and apartments.
Located just 10 minutes from downtown Memphis and the Nike and Amazon fulfillment centers.
Onsite laundry facilities are available to enhance tenant convenience.
The property is situated near several modern developments, including a newly completed 30,000-square-foot community center, an advanced library currently under construction, and a new high school — the first of its kind in fifty years. The area also features numerous recently restored and newly constructed residential homes and apartments.
Located just 10 minutes from downtown Memphis and the Nike and Amazon fulfillment centers.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$242,434
|
$16.30
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$242,434
|
$16.30
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$86,914
|
$5.84
|
| Net Operating Income |
$155,520
|
$10.46
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $242,434 |
| Annual Per SF | $16.30 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $242,434 |
| Annual Per SF | $16.30 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $86,914 |
| Annual Per SF | $5.84 |
| Net Operating Income | |
|---|---|
| Annual | $155,520 |
| Annual Per SF | $10.46 |
Property Facts
| Price | $1,795,000 | Building Class | C |
| Price Per Unit | $71,800 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 14,875 SF |
| No. Units | 25 | Average Occupancy | 89% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1964/1999 |
| Apartment Style | Low-Rise | Parking Ratio | 1.68/1,000 SF |
| Zoning | CL - Light Commercial Zoning | ||
| Price | $1,795,000 |
| Price Per Unit | $71,800 |
| Sale Type | Investment |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 14,875 SF |
| Average Occupancy | 89% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/1999 |
| Parking Ratio | 1.68/1,000 SF |
| Zoning | CL - Light Commercial Zoning |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Wi-Fi
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 25 | - | - |
Property Taxes
| Parcel Number | 07-0088-0-0018 | Improvements Assessment | $36,840 |
| Land Assessment | $6,840 | Total Assessment | $43,680 |
Property Taxes
Parcel Number
07-0088-0-0018
Land Assessment
$6,840
Improvements Assessment
$36,840
Total Assessment
$43,680
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Idlewood Apartments | 1695 Ontario Ave
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