Multi-Family Income Package
1004 N HIGHLAND Ave Memphis, TN 38122
1004 N HIGHLAND Ave, Memphis, TN, 38122
$173,000
For Sale
$173,000
MULTI_FAMILY - Memphis, TN
Property Size1,993 SF
Price / SF$86.80
Days on Market83
Property Features for 1004 N HIGHLAND Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 2
- Standard status
- Active
- Size
- 1,993 SF
Taxes and HOA fees
- Tax Annual Amount
- 1173
Building Details
- Year built
- 1946
- Architectural style
- Other
Listing Agency
BEST Real Estate Company
(901) 407-2177
6825 Summer Ave, Memphis, TN
Listed by
Elizabeth Castillo
(901) 497-4957
Added: Apr 29 Checked: Jul 20 at 3:06 am
MLS# 10220433
Listing URL
Copyright © 2026 Memphis Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale package includes three income-producing multifamily properties offered together only: 1004–1006 N Highland Ave, 1096–1098 Gordon Ave, and 540–542 Berclair Rd. The properties are currently generating $5,700 in monthly income with long-term tenants already in place.
The listing is located in Memphis, Shelby County, Tennessee. The seller is offering the properties as a package deal, with no separate sale or reconfiguration indicated in the remarks.
All unit details beyond the addresses and package income figures are not provided, so buyers should plan to review full financials and property information during due diligence.
The listing is located in Memphis, Shelby County, Tennessee. The seller is offering the properties as a package deal, with no separate sale or reconfiguration indicated in the remarks.
All unit details beyond the addresses and package income figures are not provided, so buyers should plan to review full financials and property information during due diligence.
Key Highlights
- Three income‑producing properties included: 1004‑1006 Highland Ave, 1096‑1098 Gordon Ave, and 540‑542 Berclair Rd
- Sold as a package only for $520,000
- Total monthly income listed as $5,700 with long‑term tenants in place
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.9k | $14.52 |
| − Vacancy | −$1.9k | −$0.94 |
| EGI | $27.1k | $13.58 |
| − OpEx | −$12.2k | −$6.11 |
| NOI | $14.9k | $7.47 |
1,993 SF · lease $14.52/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$240.1K
$210.1K – $280.1K
NOI $16,808 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$212.6K
$186.0K – $248.0K
NOI $14,882 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$589.0K
$515.4K – $687.2K
NOI $41,231 @ 7.0% cap · market cap 23.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Three income-producing multifamily properties are offered as a package with long-term tenants in place.
Where is this duplex located?
The property is located at 1004 N HIGHLAND Ave Memphis, TN.
What is the asking price?
The asking price for this property is $173,000.
What are key features of this property?
This property features: Three income‑producing properties included: 1004‑1006 Highland Ave, 1096‑1098 Gordon Ave, and 540‑542 Berclair Rd; Sold as a package only for $520,000; Total monthly income listed as $5,700 with long‑term tenants in place
