Log In/Sign Up
Your email has been sent.
Graham Manor Apartments 1744 N Graham St 22 Unit Apartment Building $1,300,000 ($59,091/Unit) Memphis, TN 38108
Investment Highlights
- Substaintial recent renovations
- Active and evolving neighborhood
- Turn-Key
- Occupancy steadily rising as all units are now fully renovated
Executive Summary
1744 N Graham is a 22-unit multifamily asset located in the heart of Berclair, one of Memphis’s most active and steadily improving submarkets. The property consists of 20 two-bedroom units and 2 one-bedroom units and is currently operating at 95% occupancy, offering a stable, in-place cash flowing investment.
Extensive renovations have already been completed, including updated plumbing, new appliances, exterior improvements, roofing enhancements, and upgraded window units, significantly reducing near-term capital expenditure needs. With the majority of the heavy lifting done, this presents a rare opportunity to acquire a stabilized asset without the operational burden typically associated with value-add deals.
The property still offers meaningful rent upside through continued optimization and market alignment, allowing an investor to benefit from both strong current cash flow and future growth.
Strategically located near I-40, Poplar Avenue, and the University of Memphis, the asset benefits from consistent rental demand driven by affordability and central access.
Please reach out to Dylan Patel at (901) 826-8712 for further information.
Extensive renovations have already been completed, including updated plumbing, new appliances, exterior improvements, roofing enhancements, and upgraded window units, significantly reducing near-term capital expenditure needs. With the majority of the heavy lifting done, this presents a rare opportunity to acquire a stabilized asset without the operational burden typically associated with value-add deals.
The property still offers meaningful rent upside through continued optimization and market alignment, allowing an investor to benefit from both strong current cash flow and future growth.
Strategically located near I-40, Poplar Avenue, and the University of Memphis, the asset benefits from consistent rental demand driven by affordability and central access.
Please reach out to Dylan Patel at (901) 826-8712 for further information.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$220,000
|
$14.67
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$220,000
|
$14.67
|
| Taxes |
$14,843
|
$0.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$14,843
|
$0.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $220,000 |
| Annual Per SF | $14.67 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $220,000 |
| Annual Per SF | $14.67 |
| Taxes | |
|---|---|
| Annual | $14,843 |
| Annual Per SF | $0.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $14,843 |
| Annual Per SF | $0.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,300,000 | Building Class | C |
| Price Per Unit | $59,091 | Lot Size | 0.72 AC |
| Sale Type | Investment | Building Size | 15,000 SF |
| No. Units | 22 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1964/2025 |
| Apartment Style | Garden | Parking Ratio | 2.67/1,000 SF |
| Zoning | C - Commercial | ||
| Price | $1,300,000 |
| Price Per Unit | $59,091 |
| Sale Type | Investment |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 15,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2025 |
| Parking Ratio | 2.67/1,000 SF |
| Zoning | C - Commercial |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 400 |
| 2+1 | 20 | - | 500 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 06-2048-0-0001C | Total Assessment | $269,600 |
| Land Assessment | $25,120 | Annual Taxes | $14,843 ($0.99/SF) |
| Improvements Assessment | $244,480 | Tax Year | 2025 |
Property Taxes
Parcel Number
06-2048-0-0001C
Land Assessment
$25,120
Improvements Assessment
$244,480
Total Assessment
$269,600
Annual Taxes
$14,843 ($0.99/SF)
Tax Year
2025
1 of 8
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Graham Manor Apartments | 1744 N Graham St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.