Fully Occupied
For Sale
$375,000
520 N MCNEIL St, Memphis, TN 38112
MULTI_FAMILY - Memphis, TN
Property Size3,202 SF
Price / SF$117.11
Days on Market46
Property Features for 520 N MCNEIL St
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Subdivision
HORN BROS
Standard status
Active
Size
3,202 SF
Taxes and HOA fees
Tax Annual Amount
1813
Building Details
Year built
1922
Listing Agency:
Sowell, Realtors
(901) 278-4380
Listed By:
Linda Sowell
(901) 277-4380
Added: Jun 16
Changed: Jun 29
Last Checked: Jul 31 at 6:06PM
MLS# 10224091
Copyright © 2026 Memphis Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fourplex offers a residential income configuration with four units under one property. The building is listed as fully occupied, providing continuity for an owner seeking an income-producing asset. The property size is approximately 3,202 square feet.
The property is located at 520 N McNeil St in Memphis, Tennessee, in Shelby County. It is described as being near the Crosstown Concourse, placing it within an established Memphis area.
For buyers looking for a multi-unit residential property with current occupancy in place, this fourplex presents a simple structure: a single four-unit building that is already rented. Because the listing specifically states that the property is fully occupied, it may appeal to investors and owner-operators who want to avoid vacancy-based execution at the time of purchase. Please note that all details regarding unit layout, rent rolls, and any additional property improvements were not provided in the listing materials, so those items should be reviewed directly during underwriting and due diligence.
The property is located at 520 N McNeil St in Memphis, Tennessee, in Shelby County. It is described as being near the Crosstown Concourse, placing it within an established Memphis area.
For buyers looking for a multi-unit residential property with current occupancy in place, this fourplex presents a simple structure: a single four-unit building that is already rented. Because the listing specifically states that the property is fully occupied, it may appeal to investors and owner-operators who want to avoid vacancy-based execution at the time of purchase. Please note that all details regarding unit layout, rent rolls, and any additional property improvements were not provided in the listing materials, so those items should be reviewed directly during underwriting and due diligence.
Key Highlights
- Fourplex built in 1922
- Fully occupied property near the Crosstown Concourse
Financial Insights For Multifamily LT 5
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 | $41.1k | $12.84 |
| − Vacancy | −$2.5k | −$0.79 |
| EGI | $38.6k | $12.05 |
| − OpEx | −$11.6k | −$3.61 |
| NOI | $27.0k | $8.43 |
3,202 SF · lease $12.84/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$385.8K
$337.6K – $450.1K
NOI $27,004 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$341.6K
$298.9K – $398.5K
NOI $23,909 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$946.3K
$828.0K – $1.10M
NOI $66,243 @ 7.0% cap · market cap 17.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Explore this area
Business Placement
Demographics for 38112, TN
16,970
Population
7,425
Households
2.3
Avg Household Size
32
Median Age
38%
College-Educated
85%
High-School Grad
4.8 sq mi
ZIP Area
3,535
Density / Sq Mi
$52,639
Median Household Income
$29,576
Median Earnings
$969
Median Rent
$206,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex with fully occupied units, offering a straightforward residential income setup near Crosstown Concourse.
Where is this quadplex located?
The property is located at 520 N MCNEIL St Memphis, TN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Fourplex built in 1922; Fully occupied property near the Crosstown Concourse
