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14-Unit Apartment - Memphis, TN 860 N 7th St 14 Unit Apartment Building $700,000 ($50,000/Unit) Memphis, TN 38107

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Investment Highlights

Five units are currently occupied with rental payments backed by the Memphis Housing Authority.
Nine vacant units provide an immediate opportunity to increase asset value through lease-up.
The building comprises approximately 10,500 square feet and is situated on a 0.49-acre lot.

Memphis Housing Authority payment standards often exceed traditional street rents.
All 14 units feature identical two-bedroom, one-bathroom floor plans, enabling streamlined management and maintenance.

Executive Summary

Sands Investment Group is pleased to exclusively offer for sale the 10,500 SF, 14-Unit Apartment property located at 860 N 7th Street in Memphis, Tennessee. The asset benefits from government-backed cash flow, with five units occupied by Memphis Housing Authority (MHA) voucher tenants, providing reliable, consistent rental income supported by public funding. The property also offers a compelling value-add opportunity, with nine vacant units allowing a new owner to immediately enhance cash flow through lease-up.

In Cooperation With Sands Investment Group Tennessee, LLC - Lic. #263973 BoR: Tom Gorman - Lic. TN #370394

Property Facts

Price	$700,000	Building Class	C
Price Per Unit	$50,000	Lot Size	0.49 AC
Sale Type	Investment	Building Size	10,500 SF
No. Units	14	No. Stories	2
Property Type	Multifamily	Year Built	1965
Property Subtype	Apartment General Retail Storefront Retail/Residential Multifamily Manufactured Housing Mobile Home Park Office Office Residential	Parking Ratio	0.76/1,000 SF
Apartment Style	Low-Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	MDR

Price	$700,000
Price Per Unit	$50,000
Sale Type	Investment
No. Units	14
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential Multifamily Manufactured Housing Mobile Home Park Office Office Residential
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.49 AC
Building Size	10,500 SF
No. Stories	2
Year Built	1965
Parking Ratio	0.76/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	MDR

Unit Mix Information

Description	No. Units	Avg. Rent/Mo	SF
2+1	14	-	650 - 1,000

Property Taxes

Parcel Number	02-2032-0-0041	Improvements Assessment	$39,600
Land Assessment	$30,160	Total Assessment	$69,760

Property Taxes

Parcel Number

02-2032-0-0041

Land Assessment

$30,160

Improvements Assessment

$39,600

Total Assessment

$69,760

(404) 459-6240

Contacts

Johnny Friberg
Jess Kappelman
Thomas Gorman
Sands Investment Group Atlanta, LLC

Listing ID: 39246177
Date on Market: 1/29/2026
Last Updated:
Address: 860 N 7th St, Memphis, TN 38107

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