8-Unit Apartment
For Sale
$449,900
1292 Court Ave, Memphis, TN 38104
Multifamily property with a balanced studio and one-bedroom unit mix, including partially renovated apartments.
Property Size5,184 SF
Price / SF$86.79
Days on Market51
Property Features for 1292 Court Ave
General Information
Standard status
Active
Size
5,184 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
partially renovated and in need of completion
Site & Location
Neighborhood
Midtown Memphis Development Corp.
Units
Unit Mix
4 x studio, 4 x 1BR/1BA
Multifamily Units
8
Building Details
Year Built
1960
Listing Agency:
Renshaw Company Realtors
Listed By:
Raychel Day
(901) 619-7027
Source:
Shearonsellsteam
Added: Sep 4
Changed: Oct 4
Last Checked: Oct 7 at 1:28PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Renshaw Company Realtors
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Investment Insights
Based on property information with market context.
Built in 1960, this 5,184-square-foot apartment property contains 8 units: four studios and four one-bedroom, one-bath apartments. Four units are occupied, while the other four—two studios and two one-bedroom units—are partially renovated and require completion. The property is being offered in as-is condition.
The address places the building near Downtown Memphis, the Medical District, and Midtown amenities. Tenant privacy is required during property visits.
The address places the building near Downtown Memphis, the Medical District, and Midtown amenities. Tenant privacy is required during property visits.
Key Highlights
- 8‑unit apartment building with four studios and four one‑bedroom, one‑bath units
- 5,184 square feet built in 1960
- Four units are occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,708
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$774,160
$774.2K
Cap Rate 7%
$552,971
$553.0K
Cap Rate 9%
$430,089
$430.1K
Market Conditions
NOI Build-Up for 5,184 SF
Gross rent
$75.3K $14.52/SF
− Vacancy
−$4.9K −$0.94/SF
EGI
$70.4K $13.58/SF
− OpEx
−$31.7K −$6.11/SF
NOI
$38.7K $7.47/SF
Area
Memphis, TN
Vacancy
6.50%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$774,160
Cap Rate 7%
$552,971
Cap Rate 9%
$430,089
Alternative Uses
Best Use
Apartment 5plus
$553.0K
$483.9K – $645.1K
NOI $38,708 @ 7.0% cap · market cap 8.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,247 @ 7.0% cap · market cap 23.84%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
2,896
Businesses Nearby
Explore this area
Business Placement
Demographics for 38104, TN
22,584
Population
14,315
Households
1.6
Avg Household Size
38
Median Age
52%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
4,517
Density / Sq Mi
$56,452
Median Household Income
$48,300
Median Earnings
$1,073
Median Rent
$301,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with a balanced studio and one-bedroom unit mix, including partially renovated apartments.
Where is this apartment building located?
The property is located at 1292 Court Ave Memphis, TN.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 8‑unit apartment building with four studios and four one‑bedroom, one‑bath units; 5,184 square feet built in 1960; Four units are occupied
