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261 Keel Ave 261 Keel Ave 8 Unit Apartment Building $1,125,614 CAD ($140,702 CAD/Unit) 7.85% Cap Rate Memphis, TN 38107
Investment Highlights
- All 2-bedroom Units
- Washers & Dryers
- Close to St. Jude Hospital
Executive Summary
261 Keel is an 8-unit multifamily property featuring all 2-bedroom units.
Each unit includes central heat and essential appliances: stove, refrigerator, washer, and dryer.
Located just north of St. Jude in the growing Uptown area.
The property offers scheduled monthly income of $6,570.
An attractive opportunity for investors seeking stable rental income near Downtown Memphis.
Please do not disturb residents — drive by only.
Each unit includes central heat and essential appliances: stove, refrigerator, washer, and dryer.
Located just north of St. Jude in the growing Uptown area.
The property offers scheduled monthly income of $6,570.
An attractive opportunity for investors seeking stable rental income near Downtown Memphis.
Please do not disturb residents — drive by only.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$122,112
|
$21.74
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$122,112
|
$21.74
|
| Taxes |
$19,400
|
$3.45
|
| Operating Expenses |
$14,390
|
$2.56
|
| Total Expenses |
$33,790
|
$6.02
|
| Net Operating Income |
$88,322
|
$15.73
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $122,112 |
| Annual Per SF | $21.74 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $122,112 |
| Annual Per SF | $21.74 |
| Taxes (CAD) | |
|---|---|
| Annual | $19,400 |
| Annual Per SF | $3.45 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $14,390 |
| Annual Per SF | $2.56 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $33,790 |
| Annual Per SF | $6.02 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $88,322 |
| Annual Per SF | $15.73 |
Property Facts
| Price | $1,125,614 CAD | Building Class | C |
| Price Per Unit | $140,702 CAD | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 5,616 SF |
| Cap Rate | 7.85% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise |
| Price | $1,125,614 CAD |
| Price Per Unit | $140,702 CAD |
| Sale Type | Investment |
| Cap Rate | 7.85% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 5,616 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1968 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $1,180 CAD | 702 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 00-1084-0-0001C | Total Assessment | $47,211 CAD (2025) |
| Land Assessment | $29,386 CAD (2025) | Annual Taxes | $19,400 CAD ($3.45 CAD/SF) |
| Improvements Assessment | $17,825 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
00-1084-0-0001C
Land Assessment
$29,386 CAD (2025)
Improvements Assessment
$17,825 CAD (2025)
Total Assessment
$47,211 CAD (2025)
Annual Taxes
$19,400 CAD ($3.45 CAD/SF)
Tax Year
2026
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261 Keel Ave | 261 Keel Ave
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