Renovated Quadplex with
For Sale
$373,000
1736 Tutwiler Avenue, Memphis, TN 38107
Multi-unit residential property with updated kitchens and bathrooms, varied layouts, and shared laundry facilities.
Property Size2,706 SF
Price / SF$137.84
Days on Market154
Property Features for 1736 Tutwiler Avenue
General Information
Standard status
Active
Size
2,706 SF
Property subtype
Multi-Family / Fourplex
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA, 1 x efficiency
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,489
Amenities
on-site laundry
Hardwood Throughout, Tile
Refrigerator, Range/Oven (Freestanding)
Shingle/Shake
Building Details
Year Built
1915
Listing Agency:
Coldwell Banker Collins-Maury
(901) 619-3231
Listed By:
Larry Holtermann · License #330674
(901) 619-3231
Source:
Compass
Added: Mar 30
Changed: Aug 30
Last Checked: Aug 30 at 5:13AM
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 Coldwell Banker Collins-Maury
Investment Insights
Based on property information with market context.
This 2,706-square-foot quadplex contains four occupied residences arranged as two 1-bedroom/1-bath units, one 2-bedroom/1-bath unit, and one efficiency. Interior improvements include renovated kitchens and bathrooms, hardwood and tile finishes, and freestanding refrigerator and range/oven appliances. An on-site laundry area serves the property, while the shingle/shake exterior complements the building’s 1915 construction.
The property is located at 1736 Tutwiler Avenue in Memphis, within Vollintine-Evergreen. The V&E Greenline is 0.1 mile away, and Crosstown Concourse, Café Eclectic, and Dino’s Grill are each less than a mile from the property. All residences are currently occupied.
The property is located at 1736 Tutwiler Avenue in Memphis, within Vollintine-Evergreen. The V&E Greenline is 0.1 mile away, and Crosstown Concourse, Café Eclectic, and Dino’s Grill are each less than a mile from the property. All residences are currently occupied.
Key Highlights
- 2,706 SF quadplex built in 1915
- Unit mix includes two 1‑bedroom/1‑bath units, one 2‑bedroom/1‑bath unit, and one efficiency
- All four units are currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,821
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$456,420
$456.4K
Cap Rate 7%
$326,014
$326.0K
Cap Rate 9%
$253,567
$253.6K
Market Conditions
NOI Build-Up for 2,706 SF
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.
Gross rent
$34.7K $12.84/SF
− Vacancy
−$2.1K −$0.79/SF
EGI
$32.6K $12.05/SF
− OpEx
−$9.8K −$3.61/SF
NOI
$22.8K $8.43/SF
Area
Memphis, TN
Vacancy
6.17%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$456,420
Cap Rate 7%
$326,014
Cap Rate 9%
$253,567
Alternative Uses
Best Use
Multifamily LT 5
$326.0K
$285.3K – $380.4K
NOI $22,821 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$288.6K
$252.6K – $336.8K
NOI $20,205 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$799.7K
$699.8K – $933.0K
NOI $55,982 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 38107, TN
15,655
Population
8,093
Households
1.9
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
5.4 sq mi
ZIP Area
2,899
Density / Sq Mi
$36,393
Median Household Income
$34,958
Median Earnings
$999
Median Rent
$128,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Multi-unit residential property with updated kitchens and bathrooms, varied layouts, and shared laundry facilities.
Where is this quadplex located?
The property is located at 1736 Tutwiler Avenue Memphis, TN.
What is the asking price?
The asking price for this property is $373,000.
What are key features of this property?
This property features: 2,706 SF quadplex built in 1915; Unit mix includes two 1‑bedroom/1‑bath units, one 2‑bedroom/1‑bath unit, and one efficiency; All four units are currently occupied
