Remodeled Fourplex Garden
334 North McLean Boulevard Memphis, TN 38112
For Sale
$885,000
Four occupied garden apartments with newly remodeled kitchens and central heat and air plus off-street private parking.
Property Size5,800 SF
Price / SF$152.59
Days on Market271
Property Features for 334 North McLean Boulevard
General Information
- Standard status
- Active
- Size
- 5,800 SF
- Property subtype
- Multi-Family / Fourplex
Building Details
- Year Built
- 1927
Listing Agency:
The Stamps Real Estate Company
(901) 230-7901
Listed By:
John Stamps
(901) 230-7901
Source:
Compass
Added: Oct 26, 2025
Changed: Jul 20
Last Checked: Jul 23 at 10:04AM
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 The Stamps Real Estate Company
Investment Insights
Based on property information with market context.
This fourplex garden apartment property features four units, all currently occupied. Interior updates include newly remodeled kitchens with cabinets, counters, sink, and faucet, along with a gas stove, refrigerator, garbage disposal, and a kitchen pantry closet. Units also include original hardwood floors, a living room, dining room, and a sunroom with tile floors, plus a rear screened porch. Central heat and air is provided, and primary bedrooms include a remote fan. Off-street private parking is available in the back.
Located at 334 North McLean Boulevard in Memphis, the property is described as being in Midtown and within walking distance to the Zoo and Overton Park, with Rhodes College nearby.
The seller notes additional interior photos are available through the owner on Zillow under rentals for 334 N Mclean blvd #2, and advises calling or emailing the agent for more interior pictures.
Located at 334 North McLean Boulevard in Memphis, the property is described as being in Midtown and within walking distance to the Zoo and Overton Park, with Rhodes College nearby.
The seller notes additional interior photos are available through the owner on Zillow under rentals for 334 N Mclean blvd #2, and advises calling or emailing the agent for more interior pictures.
Key Highlights
- Four occupied garden apartments (4‑plex) built in 1927
- Newly remodeled kitchens with cabinets, counters, sinks, and faucets
- Each unit includes refrigerator, freestanding range/oven, and garbage disposal, plus a kitchen pantry closet
Financial Insights For Multifamily LT 5
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 | $74.5k | $12.84 |
| − Vacancy | −$4.6k | −$0.79 |
| EGI | $69.9k | $12.05 |
| − OpEx | −$21.0k | −$3.61 |
| NOI | $48.9k | $8.43 |
5,800 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$698.8K
$611.4K – $815.2K
NOI $48,914 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$618.7K
$541.4K – $721.8K
NOI $43,308 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,990 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four occupied garden apartments with newly remodeled kitchens and central heat and air plus off-street private parking.
Where is this quadplex located?
The property is located at 334 North McLean Boulevard Memphis, TN.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: Four occupied garden apartments (4‑plex) built in 1927; Newly remodeled kitchens with cabinets, counters, sinks, and faucets; Each unit includes refrigerator, freestanding range/oven, and garbage disposal, plus a kitchen pantry closet
