Renovated 10-Unit Apartment
3917 Dunn Ave, Memphis, TN 38111
For Sale
$846,284
Updated multifamily asset with modernized systems, in-unit laundry, and refreshed kitchen finishes.
Property Size7,200 SF
Price / SF$117.54
Days on Market97
Property Features for 3917 Dunn Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
Crye-Leike Commercial
Listed By:
Jeffrey Moore · License #TN 250330
(901) 277-0477
Source:
Bryanrealty
Added: Aug 3
Changed: Nov 2
Last Checked: Nov 6 at 1:32PM
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 Commercial
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Investment Insights
Based on property information with market context.
This 8,380-square-foot apartment property contains 10 units, each configured with 2 bedrooms and 1 bathroom. Built in 1960, the asset has undergone a full renovation that includes updated electrical service, central HVAC, kitchen cabinetry, and granite countertops. Every residence includes a washer and dryer, stove, and refrigerator, providing a consistent appliance package across the property.
The property is located at 3917 Dunn Avenue in Memphis, Tennessee. The combination of unit-level amenities and substantial building-system improvements creates a clearly defined multifamily offering with updated interior and infrastructure components.
The property is located at 3917 Dunn Avenue in Memphis, Tennessee. The combination of unit-level amenities and substantial building-system improvements creates a clearly defined multifamily offering with updated interior and infrastructure components.
Key Highlights
- 10‑unit apartment property with 10 two‑bedroom, one‑bath units
- 8,380 SF multifamily building at 3917 Dunn Avenue, Memphis, TN 38111
- Full renovation includes new electrical, central HVAC, cabinets, and granite countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,762
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,075,240
$1.1M
Cap Rate 7%
$768,029
$768.0K
Cap Rate 9%
$597,356
$597.4K
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$104.5K $14.52/SF
− Vacancy
−$6.8K −$0.94/SF
EGI
$97.7K $13.58/SF
− OpEx
−$44.0K −$6.11/SF
NOI
$53.8K $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%
$1,075,240
Cap Rate 7%
$768,029
Cap Rate 9%
$597,356
Alternative Uses
Best Use
Apartment 5plus
$768.0K
$672.0K – $896.0K
NOI $53,762 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.13M
$1.86M – $2.48M
NOI $148,954 @ 7.0% cap · market cap 17.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
387
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
$165,200
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Memphis, TN
Properties on Market for Apartment buildings in Memphis
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated multifamily asset with modernized systems, in-unit laundry, and refreshed kitchen finishes.
Where is this apartment building located?
The property is located at 3917 Dunn Ave Memphis, TN.
What is the asking price?
The asking price for this property is $846,284.
What are key features of this property?
This property features: 10‑unit apartment property with 10 two‑bedroom, one‑bath units; 8,380 SF multifamily building at 3917 Dunn Avenue, Memphis, TN 38111; Full renovation includes new electrical, central HVAC, cabinets, and granite countertops
