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1775 Madison Ave 16 Unit Apartment Building $2,500,000 ($156,250/Unit) 4.17% Cap Rate Memphis, TN 38104
EXECUTIVE SUMMARY
1775 Madison Ave presents a rare opportunity to acquire a 16-unit multifamily property located in the highly desirable Midtown submarket of Memphis, Tennessee. Positioned on one of the city’s most traveled and walkable corridors, this asset combines strong in-place cash flow with significant upside potential through interior renovations and rent growth.
The property consists of sixteen 1-bedroom / 1-bathroom units, catering to the area’s growing demand for well-located, affordable urban living. With a List Price of $2,500,000, a Net Operating Income (NOI) of $104,256.88, and an in-place cap rate of 4.0%, this asset offers both immediate yield and long-term appreciation potential in one of Memphis’s most dynamic neighborhoods.
Investment Highlights
Unit Mix: 16 Units | 1-Bedroom / 1-Bathroom
Asking Price: $2,500,000
NOI: $104,256.88
Cap Rate: 4.0%
Location: Prime Midtown Memphis – highly walkable, high visibility on Madison Avenue
Value-add opportunity through interior upgrades and rent growth
Proximity to employment centers, universities, hospitals, retail, and entertainment
Excellent access to public transit and major thoroughfares
Strong renter demand and stable occupancy
The property consists of sixteen 1-bedroom / 1-bathroom units, catering to the area’s growing demand for well-located, affordable urban living. With a List Price of $2,500,000, a Net Operating Income (NOI) of $104,256.88, and an in-place cap rate of 4.0%, this asset offers both immediate yield and long-term appreciation potential in one of Memphis’s most dynamic neighborhoods.
Investment Highlights
Unit Mix: 16 Units | 1-Bedroom / 1-Bathroom
Asking Price: $2,500,000
NOI: $104,256.88
Cap Rate: 4.0%
Location: Prime Midtown Memphis – highly walkable, high visibility on Madison Avenue
Value-add opportunity through interior upgrades and rent growth
Proximity to employment centers, universities, hospitals, retail, and entertainment
Excellent access to public transit and major thoroughfares
Strong renter demand and stable occupancy
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $2,500,000 | Apartment Style | Garden |
| Price Per Unit | $156,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 4.17% | Building Size | 12,862 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 80% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1907 |
| Property Subtype | Apartment | Parking Ratio | 0.93/1,000 SF |
| Zoning | CMU-3 CMU-3 | ||
| Price | $2,500,000 |
| Price Per Unit | $156,250 |
| Sale Type | Investment |
| Cap Rate | 4.17% |
| Sale Condition | 1031 Exchange |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 12,862 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built | 1907 |
| Parking Ratio | 0.93/1,000 SF |
| Zoning | CMU-3 CMU-3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 01-7046-0-0001 | Improvements Assessment | $242,040 |
| Land Assessment | $71,160 | Total Assessment | $313,200 |
PROPERTY TAXES
Parcel Number
01-7046-0-0001
Land Assessment
$71,160
Improvements Assessment
$242,040
Total Assessment
$313,200
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1775 Madison Ave
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