Five-Unit Apartment
For Sale
$435,000
1515 Madison Avenue, Memphis, TN 38104
Four units occupy the main structure, while a fifth sits above the garage alongside on-site laundry and gated parking.
Property SizeContact for details
Days on Market154
Property Features for 1515 Madison Avenue
General Information
Standard status
Active
Property subtype
Multi-Family / Other (See REMARKS)
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$5,475
Amenities
on site laundry facility
gated parking
Tile
Shingle/Shake
Building Details
Year Built
1956
Listing Agency:
Crye-Leike, Inc., REALTORS
(901) 871-1290
Listed By:
Tyler Tapley · License #296080
(901) 871-1290
Source:
Compass
Added: Mar 31
Changed: Aug 30
Last Checked: Aug 30 at 1:29PM
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 Crye-Leike, Inc., REALTORS
Investment Insights
Based on property information with market context.
This 1956 apartment property contains five units arranged across a primary building and a separate unit above the garage. The site also provides gated parking and an on-site laundry facility. Improvements completed in 2017 and 2019 included a roof replacement, HVAC work, and selective flooring and appliance updates.
The property is located on Madison Avenue in Memphis, with Midtown and Downtown nearby. Four units are leased: Units 1 and 2 through 7/31/26, and Unit 3 through 3/28/27. Units 4 and 5 are vacant. Professional management is in place, providing an established operating structure for the apartment complex.
The property is located on Madison Avenue in Memphis, with Midtown and Downtown nearby. Four units are leased: Units 1 and 2 through 7/31/26, and Unit 3 through 3/28/27. Units 4 and 5 are vacant. Professional management is in place, providing an established operating structure for the apartment complex.
Key Highlights
- Five‑unit apartment property with four units in the primary building and one above the garage
- Gated parking and on‑site laundry facility
- Roof and HVAC improvements completed in 2017 and 2019
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,788
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
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Four units occupy the main structure, while a fifth sits above the garage alongside on-site laundry and gated parking.
Where is this apartment building located?
The property is located at 1515 Madison Avenue Memphis, TN.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Five‑unit apartment property with four units in the primary building and one above the garage; Gated parking and on‑site laundry facility; Roof and HVAC improvements completed in 2017 and 2019
