14-Unit Garden-Style Apartment
669 N Sixth Street, Memphis, TN 38107
For Sale
Contact for pricing
Two-story brick-veneer buildings offer courtyard-style common areas and central HVAC.
Property Size9,018 SF
Lot Size0.51 Acres
Price / SF$133.07
Days on Market9
Property Features for 669 N Sixth Street
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Asking Price
Amenities
central HVAC
brick-veneer exteriors
landscaped common areas
courtyard-style layout
Building Details
Year Built
Year Renovated
Buildings
Stories
Construction
Listing Agency:
Braden, Braden & Braden CRE
Listed By:
Curtis Braden · License TN #284224
(901) 301-3691
Source:
Crexi
Added: Nov 5
Changed: Nov 10
Last Checked: Nov 12 at 8:16AM
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
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Investment Insights
Based on property information with market context.
The 14-unit property comprises two two-story garden-style apartment buildings with 9,018 square feet of total building area on a 0.51-acre parcel. Constructed in 1959 and renovated in 2006, the buildings contain 14 two-bedroom, one-bathroom apartments, each reported at approximately 900 square feet. Features include central HVAC, brick-veneer exteriors, landscaped shared areas, and a courtyard-style layout.
The property is at 669 N Sixth Street in Memphis, within the Uptown neighborhood. Downtown Memphis and the St. Jude Children's Research Hospital campus are nearby, along with regional healthcare facilities, major employers, and neighborhood amenities.
Tenants are responsible for water, gas, electricity, and trash expenses.
The property is at 669 N Sixth Street in Memphis, within the Uptown neighborhood. Downtown Memphis and the St. Jude Children's Research Hospital campus are nearby, along with regional healthcare facilities, major employers, and neighborhood amenities.
Tenants are responsible for water, gas, electricity, and trash expenses.
Key Highlights
- 14 two‑bedroom, one‑bathroom units
- Two two‑story buildings with 9,018 square feet total
- 0.51‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,337
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,346,740
$1.3M
Cap Rate 7%
$961,957
$962.0K
Cap Rate 9%
$748,189
$748.2K
Market Conditions
NOI Build-Up for 9,018 SF
Gross rent
$130.9K $14.52/SF
− Vacancy
−$8.5K −$0.94/SF
EGI
$122.4K $13.58/SF
− OpEx
−$55.1K −$6.11/SF
NOI
$67.3K $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%
$1,346,740
Cap Rate 7%
$961,957
Cap Rate 9%
$748,189
Alternative Uses
Best Use
Apartment 5plus
$962.0K
$841.7K – $1.12M
NOI $67,337 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.67M
$2.33M – $3.11M
NOI $186,564 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
645
Businesses Nearby
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Business Placement
Demographics for 38107, TN
15,655
Population
8,093
Households
1.9
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
5.4 sq mi
ZIP Area
2,899
Density / Sq Mi
$36,393
Median Household Income
$34,958
Median Earnings
$999
Median Rent
$128,600
Median Home Value
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Market
Average Price Trend$/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 - Two-story brick-veneer buildings offer courtyard-style common areas and central HVAC.
Where is this apartment building located?
The property is located at 669 N Sixth Street Memphis, TN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 14 two‑bedroom, one‑bathroom units; Two two‑story buildings with 9,018 square feet total; 0.51‑acre parcel
