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31 S McLean Blvd 16 Unit Apartment Building $1,650,000 ($103,125/Unit) Memphis, TN 38104
Investment Highlights
- Mixture of Studios, 1-Bedroom and 2-Bedrooms
- Central Heating and Air
- Near the Heart of Midtown Memphis
Executive Summary
This charming 16 unit multi family is located near the heart of Midtown Memphis. The units include studios, one bedrooms and two bedrooms with central heating and air. This property may be acquired individually. However, it must close concurrently with 23 S. Mclean. The scheduled monthly income is 17500. Please do not disturb residents, drive by only.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,650,000 | Building Class | C |
| Price Per Unit | $103,125 | Lot Size | 0.45 AC |
| Sale Type | Investment | Building Size | 14,518 SF |
| No. Units | 16 | Average Occupancy | 78% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1925 |
| Apartment Style | Low-Rise | Parking Ratio | 1.03/1,000 SF |
| Zoning | RMH | ||
| Price | $1,650,000 |
| Price Per Unit | $103,125 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 14,518 SF |
| Average Occupancy | 78% |
| No. Stories | 2 |
| Year Built | 1925 |
| Parking Ratio | 1.03/1,000 SF |
| Zoning | RMH |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | $900.00 | 425 |
| 1+1 | 10 | $1,100 | 425 - 800 |
| 2+1 | 4 | $1,300 | 1,000 |
1 1
Walk Score®
Very Walkable (87)
Property Taxes
| Parcel Number | 01-7047-0-0006 | Total Assessment | $379,120 (2025) |
| Land Assessment | $71,680 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $307,440 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
01-7047-0-0006
Land Assessment
$71,680 (2025)
Improvements Assessment
$307,440 (2025)
Total Assessment
$379,120 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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31 S McLean Blvd
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