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Pontotoc Apartments - Downtown Memphis 665 E Pontotoc Ave 8 Unit Apartment Building $830,946 CAD ($103,868 CAD/Unit) Memphis, TN 38126
INVESTMENT HIGHLIGHTS
- In Walking Distance to Downtown Memphis
- Located in Opportunity Zone
- $1 Billion in Nearby Recent & Planned Development
EXECUTIVE SUMMARY
This is a great opportunity to purchase an existing apartment complex in walking distance to Southwest TN Comm College, University of TN Health Science Ctr. and Downtown Memphis! Redevelop as a value-add project or a new project. There is over $1 Billion in new and planned development in walking distance. All units are 2BR/1BA with long-term, month to month tenants. New Roof & decking completed!
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (PRO FORMA - 2023) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$199,427
|
$35.61
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$199,427
|
$35.61
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (PRO FORMA - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $199,427 |
| Annual Per SF | $35.61 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $199,427 |
| Annual Per SF | $35.61 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $830,946 CAD | Lot Size | 0.27 AC |
| Price Per Unit | $103,868 CAD | Building Size | 5,600 SF |
| Sale Type | Investment | No. Stories | 2 |
| No. Units | 8 | Year Built | 1967 |
| Property Type | Multifamily | Parking Ratio | 2.68/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | EMP | ||
| Price | $830,946 CAD |
| Price Per Unit | $103,868 CAD |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 5,600 SF |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 2.68/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | EMP |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 8 | $761.70 CAD | 700 |
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $29,849 CAD (2025) | |
| Land Assessment | $37,887 CAD (2025) | Total Assessment | $67,736 CAD (2025) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$37,887 CAD (2025)
Improvements Assessment
$29,849 CAD (2025)
Total Assessment
$67,736 CAD (2025)
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Pontotoc Apartments - Downtown Memphis | 665 E Pontotoc Ave
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