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Melinda Apartments 4332 Melinda Ave 8 Unit Apartment Building $679,000 ($84,875/Unit) 9.77% Cap Rate Memphis, TN 38108
Investment Highlights
- All 2 bedroom & 1-1/2 bath
- Central Heating & Air
- Washers & Dryers
Executive Summary
4332 Melinda is a well-maintained 8-unit multifamily property located in the established Berclair area.
The property features spacious 2-bedroom, 1.5-bath units equipped with stoves, refrigerators, washers, and dryers.
The property is positioned directly across from an elementary school, enhancing neighborhood appeal.
Currently 100% occupied, the property offers immediate and stable cash flow with scheduled monthly rental income of $6,630. Please do not disturb residents, drive by only.
The property features spacious 2-bedroom, 1.5-bath units equipped with stoves, refrigerators, washers, and dryers.
The property is positioned directly across from an elementary school, enhancing neighborhood appeal.
Currently 100% occupied, the property offers immediate and stable cash flow with scheduled monthly rental income of $6,630. 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 Under Contract
| Price | $679,000 | Apartment Style | Low-Rise |
| Price Per Unit | $84,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.43 AC |
| Cap Rate | 9.77% | Building Size | 6,460 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1969 |
| Zoning | CL | ||
| Price | $679,000 |
| Price Per Unit | $84,875 |
| Sale Type | Investment |
| Cap Rate | 9.77% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 6,460 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1969 |
| Zoning | CL |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Refrigerator
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 8 | $876.50 | 750 - 807 |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 05-3091-0-0024 | Total Assessment | $102,240 (2025) |
| Land Assessment | $16,400 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $85,840 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
05-3091-0-0024
Land Assessment
$16,400 (2025)
Improvements Assessment
$85,840 (2025)
Total Assessment
$102,240 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Melinda Apartments | 4332 Melinda Ave
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