8-Unit Multifamily
291 Greenlaw Ave Memphis, TN 38105
For Sale
Contact for pricing
Eight two-bedroom units with central heating and air are offered in this for-sale multifamily property.
Property Size7,042 SF
Price / SF$106.36
Days on Market131
Property Features for 291 Greenlaw Ave
General Information
- Standard status
- Active
- Size
- 7,042 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1960
Listing Agency:
Crye-Leike Commercial Memphis
(901) 277-0477
Listed By:
Jeffrey Moore · License #TN 250330
Source:
Crexi
Added: Mar 16
Changed: Jul 23
Last Checked: Jul 23 at 3:15AM
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 Commercial Memphis
Investment Insights
Based on property information with market context.
This for-sale 8-unit multifamily property consists of eight 2-bedroom apartments. Each unit is equipped with central heating and air.
The property is located at 291 Greenlaw Ave in Memphis, Tennessee 38105.
For buyers seeking a straightforward small income property, the consistent unit configuration and in-unit central heating and air support a relatively uniform living setup across the building’s eight apartments.
The property is located at 291 Greenlaw Ave in Memphis, Tennessee 38105.
For buyers seeking a straightforward small income property, the consistent unit configuration and in-unit central heating and air support a relatively uniform living setup across the building’s eight apartments.
Key Highlights
- 8‑unit multifamily property
- All units are 2‑bedroom units (8 total)
- Central heating and air in the units
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 | $102.2k | $14.52 |
| − Vacancy | −$6.6k | −$0.94 |
| EGI | $95.6k | $13.58 |
| − OpEx | −$43.0k | −$6.11 |
| NOI | $52.6k | $7.47 |
7,042 SF · lease $14.52/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$751.2K
$657.3K – $876.4K
NOI $52,582 @ 7.0% cap · market cap 7.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,685 @ 7.0% cap · market cap 19.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Eight two-bedroom units with central heating and air are offered in this for-sale multifamily property.
Where is this apartment building located?
The property is located at 291 Greenlaw Ave Memphis, TN.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 8‑unit multifamily property; All units are 2‑bedroom units (8 total); Central heating and air in the units
