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Apartment Complex Near University

665 E Pontotoc Ave, Memphis, TN 38126

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For Sale

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Apartment complex near universities with redevelopment potential.

Type:Multifamily

Property size:

5,600 SF

Price / SF:

$115/SF

HighLights

Prime location: Walking distance to Southwest TN Comm College, University of TN Health Science Ctr., and Downtown Memphis.
Significant development potential: Opportunity for value‑add redevelopment or a new project.
High‑growth area: Over $1 Billion in new and planned development nearby.
Stable income stream: All units are 2BR/1BA with existing long‑term tenants.
Recent capital improvement: New roof & decking completed.
Established property: Built in 1967.

We can help!

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John Cornes, CCIM

For Sale

Contact for pricing

Apartment complex near universities with redevelopment potential.

Type:Multifamily

Property size:

5,600 SF

Price / SF:

$115/SF

Added:: Mar 7, 2026
Days on Market:: 124
Last Refresh:: Jul 2 at 5:38 am

Property Features for 665 E Pontotoc Ave

General Information

Standard status: Active
Size: 5,600 SF
Property subtype: Multifamily

Building Details

Year Built: 1967

We can help!

Contact an agent

John Cornes, CCIM

Listing office Braden, Braden & Braden CRE

Listing date Mar 7, 2026

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

Prime location: Walking distance to Southwest TN Comm College, University of TN Health Science Ctr., and Downtown Memphis.
Significant development potential: Opportunity for value‑add redevelopment or a new project.
High‑growth area: Over $1 Billion in new and planned development nearby.
Stable income stream: All units are 2BR/1BA with existing long‑term tenants.
Recent capital improvement: New roof & decking completed.
Established property: Built in 1967.

Overview

This property presents an opportunity to acquire an existing apartment complex situated within walking distance of Southwest Tennessee Community College, the University of Tennessee Health Science Center, and Downtown Memphis. The property offers potential for redevelopment as a value-add project or a new development. The surrounding area features over $1 billion in new and planned development. The complex consists of units with a two-bedroom, one-bathroom layout. The units are currently occupied by long-term, month-to-month tenants. A new roof and decking have been completed. The property size is 5,600 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$81.3k	$14.52
− Vacancy	−$5.3k	−$0.94
EGI	$76.0k	$13.58
− OpEx	−$34.2k	−$6.11
NOI	$41.8k	$7.47

5,600 SF · lease $14.52/SF/yr · vacancy 6.50% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$597.4K

$522.7K – $696.9K (±1% cap)

NOI $41,815 @ 7.0% cap · market cap 6.44%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.66M

$1.45M – $1.93M (±1% cap)

NOI $115,853 @ 7.0% cap · market cap 17.85%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Memphis
County: Shelby
State: Tennessee
Longitude: -90.0392785
Latitude: 35.1352097

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For sale
Apartment buildings
TN
Memphis
38126
665 E Pontotoc Ave

What type of property is this?

Apartment building - Apartment complex near universities with redevelopment potential.

Where is this apartment building located?

The property is located at 665 E Pontotoc Ave Memphis, TN.

What is the asking price?

The asking price for this property is $649,000.

What are key features of this property?

This property features: Prime location: Walking distance to Southwest TN Comm College, University of TN Health Science Ctr., and Downtown Memphis.; Significant development potential: Opportunity for value‑add redevelopment or a new project.; High‑growth area: Over $1 Billion in new and planned development nearby.

665 E Pontotoc Ave, Memphis, TN 38126

Apartment complex near universities with redevelopment potential.

Property Features for 665 E Pontotoc Ave

General Information

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Flex Industrial Building with Office

Memphis Commercial Property For Sale

East Memphis Multifamily Investment Opportunity

Turnkey Duplex with Covered Parking

Versatile Commercial Property in Memphis

Freestanding Retail Redevelopment Building

Gated Townhome Community in Memphis

19-Unit Multifamily Apartment Building

Memphis Commercial Property for Sale

Office Building in Medical District

Upper/Lower Duplex with Patios

Turnkey Central Gardens Duplex

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