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1775 Madison Ave 16 Unit Apartment Building $2,335,324 CAD ($145,958 CAD/Unit) 5.54% 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
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Property Facts
| Price | $2,335,324 CAD | Building Class | C |
| Price Per Unit | $145,958 CAD | Lot Size | 0.33 AC |
| Sale Type | Investment | Building Size | 12,862 SF |
| Cap Rate | 5.54% | 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 |
| Apartment Style | Garden | ||
| Zoning | CMU-3 CMU-3 | ||
| Price | $2,335,324 CAD |
| Price Per Unit | $145,958 CAD |
| Sale Type | Investment |
| Cap Rate | 5.54% |
| 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
Very walkable
80/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 01-7046-0-0001 | Improvements Assessment | $331,302 CAD |
| Land Assessment | $97,403 CAD | Total Assessment | $428,705 CAD |
Property Taxes
Parcel Number
01-7046-0-0001
Land Assessment
$97,403 CAD
Improvements Assessment
$331,302 CAD
Total Assessment
$428,705 CAD
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1775 Madison Ave
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