Multifamily Package Deal
For Sale
Contact for pricing
347 Pauline St, Memphis, TN 38104
Two multifamily properties with 15 units for sale.
Property Size5,100 SF
Price / SF$88.39
Days on Market602
Property Features for 347 Pauline St
General Information
Standard status
Active
Size
5,100 SF
Class
C
Total Parking Spaces
20
Property subtype
Multifamily
Zoning
RMM
Occupancy
90%
Net Operating Income
$76,680
Building Details
Year Built
1965
Buildings
2
Stories
2
Units
14
Listing Agency:
Braden, Braden & Braden CRE
Listed By:
Curtis Braden · License #TN-284224
(901) 881-2070
Source:
Crexi
Added: Feb 13, 2025
Changed: Oct 7
Last Checked: Oct 7 at 12:00PM
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 Braden, Braden & Braden CRE
Investment Insights
Based on property information with market context.
This package deal offers the opportunity to acquire two multifamily properties. Located at 986 Peabody and 347 Pauline, the properties offer a total of 15 units. The property at 986 Peabody contains 8 units, while the property at 347 Pauline has 7 units. The package provides a mix of unit types and an attractive total capitalization rate. The combined properties offer potential for cash flow and long-term growth. The total property size is 5100 square feet.
Key Highlights
- Package deal: Two multifamily properties (986 Peabody & 347 Pauline) offered together.
- Total of 15 units across both properties.
- Investment opportunity with potential for strong cash flow.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,081
Cap Rate
8.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$761,620
$761.6K
Cap Rate 7%
$544,014
$544.0K
Cap Rate 9%
$423,122
$423.1K
Market Conditions
NOI Build-Up for 5,100 SF
Gross rent
$74.1K $14.52/SF
− Vacancy
−$4.8K −$0.94/SF
EGI
$69.2K $13.58/SF
− OpEx
−$31.2K −$6.11/SF
NOI
$38.1K $7.47/SF
Area
Memphis, TN
Vacancy
6.50%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$761,620
Cap Rate 7%
$544,014
Cap Rate 9%
$423,122
Alternative Uses
Best Use
Apartment 5plus
$544.0K
$476.0K – $634.7K
NOI $38,081 @ 7.0% cap · market cap 8.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,509 @ 7.0% cap · market cap 23.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,558
Businesses Nearby
Explore this area
Business Placement
Demographics for 38104, TN
22,584
Population
14,315
Households
1.6
Avg Household Size
38
Median Age
52%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
4,517
Density / Sq Mi
$56,452
Median Household Income
$48,300
Median Earnings
$1,073
Median Rent
$301,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two multifamily properties with 15 units for sale.
Where is this apartment building located?
The property is located at 347 Pauline St Memphis, TN.
What is the asking price?
The asking price for this property is $450,800.
What are key features of this property?
This property features: Package deal: Two multifamily properties (986 Peabody & 347 Pauline) offered together.; Total of 15 units across both properties.; Investment opportunity with potential for strong cash flow.
