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Wellington Apartments 957 Wellington St 6 Unit Apartment Building $810,511 CAD ($135,085 CAD/Unit) 7.24% Cap Rate Memphis, TN 38126
Investment Highlights
- New Roof, Electrical, Windows & Flooring
- Spacious 2-bedroom Units
- Minutes from Downtown Memphis
Executive Summary
This fully renovated 6-unit multifamily property is located just minutes south of Downtown Memphis.
Each unit is a spacious 2-bedroom, appealing to a strong and stable tenant base.
Recent upgrades include a new roof, electrical, plumbing, windows, and flooring.
The property generates $5,400 in scheduled monthly rental income.
A turnkey asset offering immediate cash flow with upside in a growing submarket.
Each unit is a spacious 2-bedroom, appealing to a strong and stable tenant base.
Recent upgrades include a new roof, electrical, plumbing, windows, and flooring.
The property generates $5,400 in scheduled monthly rental income.
A turnkey asset offering immediate cash flow with upside in a growing submarket.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $810,511 CAD | Building Class | C |
| Price Per Unit | $135,085 CAD | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 5,000 SF |
| Cap Rate | 7.24% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | R-MM | ||
| Price | $810,511 CAD |
| Price Per Unit | $135,085 CAD |
| Sale Type | Investment |
| Cap Rate | 7.24% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 5,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Opportunity Zone |
Yes |
| Zoning | R-MM |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $1,238 CAD | 833 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 01-3043-0-0014 | Total Assessment | $200,745 CAD (2025) |
| Land Assessment | $8,804 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $191,941 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
01-3043-0-0014
Land Assessment
$8,804 CAD (2025)
Improvements Assessment
$191,941 CAD (2025)
Total Assessment
$200,745 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
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Wellington Apartments | 957 Wellington St
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