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1775 Madison Ave 16 Unit Apartment Building $3,462,275 CAD ($216,392 CAD/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 | $3,462,275 CAD | Apartment Style | Garden |
| Price Per Unit | $216,392 CAD | 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 | $3,462,275 CAD |
| Price Per Unit | $216,392 CAD |
| 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 | $337,868 CAD |
| Land Assessment | $99,334 CAD | Total Assessment | $437,202 CAD |
PROPERTY TAXES
Parcel Number
01-7046-0-0001
Land Assessment
$99,334 CAD
Improvements Assessment
$337,868 CAD
Total Assessment
$437,202 CAD
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1775 Madison Ave
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