Listing Agency: Pinnacle Realty

Listed By: Jeanette Lin · License #TN 318772 Show Phone

Source: Crexi

Added: Sep 17 Changed: Sep 24 Last Checked: Sep 26 at 7:05AM

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Investment Insights

Based on property information with market context.

This Memphis apartment property comprises 46 units and is presented with a 10.00% cap rate. The property is located at 3459 Southern Avenue in Memphis, Tennessee.

Key Highlights

• 46‑unit apartment property
• 10.00% cap rate
• 3459 Southern Avenue, Memphis, TN 38111

Property Analytics

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Current Use

University Flats Apartment Complex Edwards Apartments Corporate Office

Suggested Use

Top Pick Law Firm Real Estate Agency Building Supply Kitchen & Bath Showroom Big Box & Wholesale Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

46

Residential units

Location Intelligence

Trade Area within ½ mile

774

Businesses Nearby

Explore this area Business Placement

Demographics for 38111, TN

40,533

Population

20,084

Households

2

Avg Household Size

34

Median Age

38%

College-Educated

89%

High-School Grad

9.8 sq mi

ZIP Area

4,136

Density / Sq Mi

$52,806

Median Household Income

$33,449

Median Earnings

$1,077

Median Rent

$165,200

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Multifamily property with a stated 10.00% cap rate.

Where is this apartment building located?

The property is located at 3459 Southern Avenue Memphis, TN.

What is the asking price?

The asking price for this property is $1,900,000.

What are key features of this property?

This property features: 46‑unit apartment property; 10.00% cap rate; 3459 Southern Avenue, Memphis, TN 38111