347 Pauline St, Memphis, TN 38104
Two multifamily properties with 15 units for sale.
- Added:
- Feb 13, 2025
- Days on Market:
- 511
- Last Refresh:
- Jun 27 at 3:56 pm
Property Features for 347 Pauline St
General Information
- Standard status
- Active
- Size
- 5,100 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1965
Listing office Braden, Braden & Braden CRE (901) 881-2070
Listing date Feb 13, 2025
Source Crexi
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
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.
- Combined purchase price of $966,000.
- 986 Peabody: 8 units.
- 347 Pauline: 7 units.
Overview
Local 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 | $74.1k | $14.52 |
| − Vacancy | −$4.8k | −$0.94 |
| EGI | $69.2k | $13.58 |
| − OpEx | −$31.2k | −$6.11 |
| NOI | $38.1k | $7.47 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -90.0285007
- Latitude
- 35.1331381
