Renovated Multifamily Apartment
For Sale
$7,200,000
57 North Somerville Street, Memphis, TN 38104
Apartment building with 128 units, including 100 recently renovated and updated common areas plus mechanical upgrades.
Property SizeContact for details
Days on Market116
Property Features for 57 North Somerville Street
General Information
Standard status
Active
Property subtype
Multifamily
Building Details
Year Built
1957
Units
133
Listing Agency:
Woodyard Realty Corporation
Listed By:
Steve Woodyard · License #TN #217464
(901) 277-7731
Source:
Woodyardrealty
Added: May 15
Changed: Sep 4
Last Checked: Sep 7 at 7:38AM
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 Woodyard Realty Corporation
Investment Insights
Based on property information with market context.
This multifamily apartment building contains 128 units, with 100 units recently renovated. Recent upgrades also include new elevators and updated chillers and boilers, along with improvements to common areas and community amenities.
The property is positioned in Memphis’s Downtown/Medical District, an area anchored by major employers including the VA Hospital, University of Tennessee Health Science Center, and St. Jude Children’s Research Hospital.
On-site amenities include an outdoor pool, fitness center, pet park, resident lounge, secure gated parking, and on-site laundry facilities. Additional income is described as coming from a parking lot revenue stream and a cell tower lease.
The property is positioned in Memphis’s Downtown/Medical District, an area anchored by major employers including the VA Hospital, University of Tennessee Health Science Center, and St. Jude Children’s Research Hospital.
On-site amenities include an outdoor pool, fitness center, pet park, resident lounge, secure gated parking, and on-site laundry facilities. Additional income is described as coming from a parking lot revenue stream and a cell tower lease.
Key Highlights
- 128‑unit apartment building (1957) with 100 units renovated in recent years
- New elevators plus mechanical upgrades including chillers and boilers
- Upgraded common areas and community amenities
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,965
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
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building with 128 units, including 100 recently renovated and updated common areas plus mechanical upgrades.
Where is this apartment building located?
The property is located at 57 North Somerville Street Memphis, TN.
What is the asking price?
The asking price for this property is $7,200,000.
What are key features of this property?
This property features: 128‑unit apartment building (1957) with 100 units renovated in recent years; New elevators plus mechanical upgrades including chillers and boilers; Upgraded common areas and community amenities
