Established Multifamily
For Sale
$153,000
3464 Coleman Ave, Memphis, TN 38122
Residential rental asset completed in 1945.
Property Size1,597 SF
Price / SF$95.80
Days on Market48
Property Features for 3464 Coleman Ave
General Information
Standard status
Active
Size
1,597 SF
Property subtype
Multi-Family
Building Details
Year Built
1945
Listing Agency:
Crye-Leike, Inc., Realtors
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Sep 2
Changed: Oct 16
Last Checked: Oct 16 at 8:12AM
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
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Investment Insights
Based on property information with market context.
This multifamily property was constructed in 1945 and contains 1,597 square feet of property area. The asset is located at 3464 Coleman Ave in Memphis, Tennessee, within ZIP code 38122.
Key Highlights
- Multifamily property with 1,597 square feet of property area
- Built in 1945
- Located at 3464 Coleman Ave, Memphis, TN 38122
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,468
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$269,360
$269.4K
Cap Rate 7%
$192,400
$192.4K
Cap Rate 9%
$149,644
$149.6K
Market Conditions
NOI Build-Up for 1,597 SF
Gross rent
$20.5K $12.84/SF
− Vacancy
−$1.3K −$0.79/SF
EGI
$19.2K $12.05/SF
− OpEx
−$5.8K −$3.61/SF
NOI
$13.5K $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 Rate 5%
$269,360
Cap Rate 7%
$192,400
Cap Rate 9%
$149,644
Alternative Uses
Best Use
Multifamily LT 5
$192.4K
$168.4K – $224.5K
NOI $13,468 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$170.4K
$149.1K – $198.8K
NOI $11,925 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$472.0K
$413.0K – $550.7K
NOI $33,039 @ 7.0% cap · market cap 21.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 38122, TN
26,432
Population
10,201
Households
2.6
Avg Household Size
33
Median Age
22%
College-Educated
74%
High-School Grad
6.8 sq mi
ZIP Area
3,887
Density / Sq Mi
$45,456
Median Household Income
$32,760
Median Earnings
$1,127
Median Rent
$108,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Residential rental asset completed in 1945.
Where is this multifamily property located?
The property is located at 3464 Coleman Ave Memphis, TN.
What is the asking price?
The asking price for this property is $153,000.
What are key features of this property?
This property features: Multifamily property with 1,597 square feet of property area; Built in 1945; Located at 3464 Coleman Ave, Memphis, TN 38122
