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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
    View Property Analytics
    19-Unit Multifamily Apartment Building
    Updated: Apr 20
    19-Unit Multifamily Apartment Building

    32 N BELVEDERE Blvd, Memphis, TN 38104

    $1,568,000
    946 sqft
    Investment package with 19 individual units and 42 total bedrooms across the property
    Unit mix includes five 3BR, thirteen 2BR, and one 1BR unit
    Current monthly rent totals $17,410; three‑bedroom units rent up to $1,325 and two‑bedroom units up to $1,200
    Only one unit is vacant as of April 2026; seller has continued upgrades and repairs as needed
    Each unit has a $160 monthly HOA fee, and units include on‑site parking and washer/dryer connections
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    Gated Townhome Community in Memphis
    Gated Townhome Community in Memphis

    1961-1970 REMBERT Pl, Memphis, TN 38104

    $1,650,000
    1,116 sqft

    Fully occupied, renovated townhomes near Overton Square. Perfect for investors.

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    Fully Electric 5-Unit Apartment Building
    Fully Electric 5-Unit Apartment Building

    712 N FIFTH St, Memphis, TN 38107

    $459,900
    3,202 sqft

    Renovated, fully electric 5-unit property with three occupied units and two currently vacant for rental income.

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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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    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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    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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    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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    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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    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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    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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    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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    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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    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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    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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    Memphis Midtown Apartment Portfolio
    Memphis Midtown Apartment Portfolio

    50 S Morrison St, Memphis, TN 38104

    $2,400,000

    Apartment portfolio in Memphis' Midtown near medical construction.

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    Multifamily Package Deal Opportunity
    Multifamily Package Deal Opportunity

    347 Pauline St, Memphis, TN 38104

    $450,800
    5,100 sqft

    Two multifamily properties with 15 units for sale.

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    Memphis 5-Unit Garden Apartment
    Memphis 5-Unit Garden Apartment

    1025 South Wellington Street, Memphis, TN 38126

    $299,400

    Centrally located 5-unit apartment building near Downtown Memphis.

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    Shelby County, TN Apartment Buildings Market Trends and Statistics

    Explore 72 apartment buildings for sale in Shelby County, TN, showcased through 31 active listings on our real estate platform. These investment opportunities span a total of 387,560 square feet of properties for sale, with an estimated market value of $34,938,300.

    Sale prices for two-family homes in Shelby County, TN start at $299,400, averaging $1,746,915, and reaching up to $12,000,000 — 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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