5-Unit Apartment
4034 Berkshire Ave, Memphis, TN 38108
For Sale
New
$378,968
Each residence offers two bedrooms, central heating and air, a stove, and a refrigerator.
Property Size3,900 SF
Price / SF$97.17
Days on Market7
Property Features for 4034 Berkshire Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Building Details
Year Built
Listing Agency:
Broker South Realty
Listed By:
The Eric Crutcher Sales Team
(901) 212-2414
Source:
Doorstep-realty
Added: Nov 8
Changed: Nov 12
Last Checked: Nov 12 at 8:17AM
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 Broker South Realty
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Investment Insights
Based on property information with market context.
This five-unit multifamily property has a two-bedroom layout in each apartment. Central heating and air, a stove, and a refrigerator are provided in every unit.
The property is located at 4034 Berkshire Ave. in Memphis, Tennessee, on a street described as predominantly single-family residential.
The property is located at 4034 Berkshire Ave. in Memphis, Tennessee, on a street described as predominantly single-family residential.
Key Highlights
- Five apartment units, each with two bedrooms
- Central heating and air in every unit
- Stove and refrigerator provided in each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,121
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,420
$582.4K
Cap Rate 7%
$416,014
$416.0K
Cap Rate 9%
$323,567
$323.6K
Market Conditions
NOI Build-Up for 3,900 SF
Gross rent
$56.6K $14.52/SF
− Vacancy
−$3.7K −$0.94/SF
EGI
$52.9K $13.58/SF
− OpEx
−$23.8K −$6.11/SF
NOI
$29.1K $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%
$582,420
Cap Rate 7%
$416,014
Cap Rate 9%
$323,567
Alternative Uses
Best Use
Apartment 5plus
$416.0K
$364.0K – $485.4K
NOI $29,121 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,683 @ 7.0% cap · market cap 21.29%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
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Business Placement
Demographics for 38108, TN
17,051
Population
7,881
Households
2.2
Avg Household Size
34
Median Age
11%
College-Educated
73%
High-School Grad
7.6 sq mi
ZIP Area
2,244
Density / Sq Mi
$35,435
Median Household Income
$32,126
Median Earnings
$921
Median Rent
$62,600
Median Home Value
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Market
Average Price Trend$/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 - Each residence offers two bedrooms, central heating and air, a stove, and a refrigerator.
Where is this apartment building located?
The property is located at 4034 Berkshire Ave Memphis, TN.
What is the asking price?
The asking price for this property is $378,968.
What are key features of this property?
This property features: Five apartment units, each with two bedrooms; Central heating and air in every unit; Stove and refrigerator provided in each apartment
