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    Memphis Multifamily Building For Sale
    Updated: May 22, 2025
    Memphis Multifamily Building For Sale

    487 WILLIAMS Ave, Memphis, TN 38126

    $369,000
    4,200 sqft
    Six‑unit apartment building with income potential
    ~$140,000 in renovations completed by the owner
    Sewer line replaced (March 2025)
    Two units are currently rented
    Two units are vacant and move‑in ready
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    This listing looks promising.

    Here's a quick look at some key insights for

    487 WILLIAMS Ave, Memphis, TN 38126

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    • Est. Cap Rate

      8.5%
      Above avg (5.9%)

    • Est. NOI

      $31K
      Annual

    • Mortgage

      $134K
      Jul 2020

    • Last Sold

      Jul 2020
      $167K

    • Property Type

      Garden Apt, Court Apt
      Built 1964
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    Gated Townhome Community in Memphis
    Updated: Apr 24
    Gated Townhome Community in Memphis

    1961-1970 REMBERT Pl, Memphis, TN 38104

    $1,650,000
    1,116 sqft
    100% Occupied & Fully Renovated (2019): Immediate income generation with modern updates.
    Prime Location: Heart of Midtown Memphis, near Overton Square, Overton Park, Memphis Zoo, and the Medical District.
    No HOA or Deed Restrictions: Ideal for long‑term or short‑term rentals (Airbnb).
    Gated Community: Enhanced security and privacy for residents.
    Unit Features: 2 beds/2.5 baths with updated kitchens (granite, stainless steel), new flooring, and dedicated parking.
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    19-Unit Multifamily Apartment Building
    19-Unit Multifamily Apartment Building

    32 N BELVEDERE Blvd, Memphis, TN 38104

    $1,568,000
    946 sqft

    Professionally managed 19-unit property with parking and washer/dryer connections, available for bulk purchase.

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    5-Unit Garden Apartment
    5-Unit Garden Apartment

    1025 S WELLINGTON St, Memphis, TN 38126

    $299,400
    3,772 sqft

    Five-unit garden apartment with recent stair and building systems updates and current 80% occupancy.

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    Apartment Conversion Opportunity
    Apartment Conversion Opportunity

    6020 Shelby Oaks Drive, Memphis, TN 38134

    $2,000,000
    41,280 sqft

    Vacant hospitality property with an apartment redevelopment concept, including a newly installed roof and existing elevator infrastructure.

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    Townhome-Style Multifamily Community
    Townhome-Style Multifamily Community

    4390 KAMALI Ct, Memphis, TN 38128

    $650,000
    20,956 sqft

    Renovation-ready 21-unit multifamily with two-bedroom layouts and in-unit washer/dryer connections.

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    Multifamily Apartment Building with Gated Parking
    Multifamily Apartment Building with Gated Parking

    1515 MADISON Ave, Memphis, TN 38104

    $380,000
    3,166 sqft

    Five-unit apartment complex with gated parking and on-site laundry, offering rental stability and an owner-occupant option.

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    Renovated Five-Unit Multifamily
    Renovated Five-Unit Multifamily

    712 N FIFTH St, Memphis, TN 38107

    $449,900
    3,202 sqft

    Fully electric five-unit property with recent renovations and currently leased units, including two Section 8 leases.

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    Renovated Multifamily Community in Midtown
    Renovated Multifamily Community in Midtown

    170 North Hollywood Street, Memphis, TN 38112

    $5,900,000
    49,222 sqft

    Renovated 52-unit multifamily property in Midtown Memphis.

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    Individually Metered Apartment Complex
    Individually Metered Apartment Complex

    2116 HOWELL Ave, Memphis, TN 38108

    $900,000
    16,416 sqft

    27-unit apartment complex with individually metered units and a mix of one-, two-, and three-bedroom layouts.

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    Apartment Complex Near University
    Apartment Complex Near University

    665 E Pontotoc Ave, Memphis, TN 38126

    $649,000
    5,600 sqft

    Apartment complex near universities with redevelopment potential.

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    8-Unit Multifamily Property
    8-Unit Multifamily Property

    291 Greenlaw Ave, Memphis, TN 38105

    $749,000
    7,042 sqft

    Eight two-bedroom units with central heating and air are offered in this for-sale multifamily property.

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    Midtown Memphis Multifamily Investment Property
    Midtown Memphis Multifamily Investment Property

    1905 Jefferson Ave, Memphis, TN 38104

    $695,000
    9,365 sqft

    Six-unit multifamily property in the heart of Midtown Memphis.

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    Large Multifamily Property Near FedEx
    Large Multifamily Property Near FedEx

    179 Vance Avenue, Memphis, TN 38103

    $999,000
    9,000 sqft

    Two-unit multifamily property with parking near FedEx Forum.

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    Low-Rise Garden Apartment Community
    Low-Rise Garden Apartment Community

    737 Court Avenue, Memphis, TN 38105

    $700,000
    3,362 sqft

    Faulkner Court Apartments is a low-rise garden-style apartment community for sale in central Memphis near major attractions.

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    Multi-Family Near University of Memphis
    Multi-Family Near University of Memphis

    592 Patterson St, Memphis, TN 38111

    $1,030,000
    13,634 sqft

    Eleven-unit multi-family property located next to the University of Memphis.

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    Downtown Memphis Mixed-Use Development Site
    Downtown Memphis Mixed-Use Development Site

    48 South Front Street, Memphis, TN 38103

    Contact for pricing
    21,000 sqft 0.17 AC lot

    Prime downtown location with retail and residential development potential.

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    Multifamily Investment Opportunity
    Multifamily Investment Opportunity

    986 Peabody Ave, Memphis, TN 38104

    $515,200
    7,200 sqft

    Two multifamily properties with 15 units in Memphis, Tennessee.

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    Multifamily Property Near University
    Multifamily Property Near University

    600 Patterson St, Memphis, TN 38111

    $1,123,000
    19,471 sqft

    12-unit multifamily property located next to the University of Memphis.

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    Midtown Memphis Multifamily Investment
    Midtown Memphis Multifamily Investment

    31 S McLean Blvd, Memphis, TN 38104

    $1,650,000
    19,384 sqft

    16-unit multifamily property in the heart of Midtown Memphis.

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    Midtown Memphis Multifamily Building
    Midtown Memphis Multifamily Building

    23 S McLean Blvd, Memphis, TN 38104

    $1,650,000
    19,210 sqft

    Charming 16-unit multifamily building in the heart of Midtown Memphis.

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    Multifamily Apartment Buildings
    Multifamily Apartment Buildings

    1060-1066 & 1070-1076 Merriwether Avenue, Memphis, TN 38105

    $2,275,000

    For-sale multifamily apartment buildings offering residential income housing in Memphis, Tennessee.

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    Apartment Building with Vacant Units
    Apartment Building with Vacant Units

    2502 Saint Elmo Ave, Memphis, TN 38127

    $1,300,000

    For-sale apartment building with low current occupancy and a large portion of units needing renovation.

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    Renovated Multifamily Apartment Building
    Renovated Multifamily Apartment Building

    57 North Somerville Street, Memphis, TN 38104

    $7,200,000

    Apartment building with 128 units, including 100 recently renovated and updated common areas plus mechanical upgrades.

    View details

    Memphis, TN Apartment Buildings Market Trends and Statistics

    Explore 72 apartment buildings for sale in Memphis, TN, showcased through 50 active listings on our real estate platform. These investment opportunities span a total of 422,244 square feet of properties for sale, with an estimated market value of $111,020,599.

    Sale prices for two-family homes in Memphis, TN start at $204,999, averaging $2,581,874, and reaching up to $16,500,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Garden apartment buildings 1
    Small apartment buildings 1

    Demographics Overview

    Population 718K
    Population Growth (5Y) -3.1%
    Median Household Income $61,271
    College Educated 18.4%

    High-Yield Neighborhoods for Investment

    Identify Memphis submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    38126 $406.9K
    38128 $650K
    38108 $900K
    38107 $936.5K
    38111 $1M

    Taxes & Financing

    Tax Rate (average for all types) 5.80%
    Property Tax per SF $85.96 per SF
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Shelby County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Shelby County

    Residential Income

    Property Size Breakdown

    The majority of commercial real estate listings in Memphis fall within the 100,000+ square foot range.

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    Most Searched ZIP Codes in Memphis, TN

    • 38104
    • 38105
    • 38107
    • 38126
    • 38111
    • 38103
    • 38109
    • 38112
    • 38122
    • 38127
    • 38108
    • 38114

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