Renovated 5-Unit Apartment
For Sale
$444,900
712 N FIFTH St, Memphis, TN 38107
Multi-Family, Memphis, TN
Property Size3,202 SF
Price / SF$138.94
Days on Market115
Property Features for 712 N FIFTH St
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Subdivision
GREENLAW
Standard status
Active
Size
3,202 SF
Taxes and HOA fees
Tax Annual Amount
2249
Building Details
Year built
1966
Listing Agency:
Renshaw Company, REALTORS
Listed By:
Qazi Ahmad
(901) 820-4367
Added: Jun 22
Changed: Sep 15
Last Checked: Oct 14 at 1:06PM
MLS# 10224604
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 3,202-square-foot apartment building contains five units and is fully electric. The property was renovated approximately 5 years ago, including a new roof, HVAC systems, water heaters, and flooring. Three units are occupied, while two are vacant and available for future leasing. Two units are leased through Section 8.
Located at 712 N FIFTH St in Memphis, Tennessee, the property was built in 1966. Tenant access is subject to an accepted offer, and showings are not available beforehand.
Located at 712 N FIFTH St in Memphis, Tennessee, the property was built in 1966. Tenant access is subject to an accepted offer, and showings are not available beforehand.
Key Highlights
- Five‑unit apartment building with 3,202 square feet
- Fully electric property with 3 occupied and 2 vacant units
- Renovated approximately 5 years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,909
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,180
$478.2K
Cap Rate 7%
$341,557
$341.6K
Cap Rate 9%
$265,656
$265.7K
Market Conditions
NOI Build-Up for 3,202 SF
Gross rent
$46.5K $14.52/SF
− Vacancy
−$3.0K −$0.94/SF
EGI
$43.5K $13.58/SF
− OpEx
−$19.6K −$6.11/SF
NOI
$23.9K $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%
$478,180
Cap Rate 7%
$341,557
Cap Rate 9%
$265,656
Alternative Uses
Best Use
Apartment 5plus
$341.6K
$298.9K – $398.5K
NOI $23,909 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$946.3K
$828.0K – $1.10M
NOI $66,243 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
645
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully electric multifamily property with occupied and vacant units, updated building systems, and Section 8 leases in place.
Where is this apartment building located?
The property is located at 712 N FIFTH St Memphis, TN.
What is the asking price?
The asking price for this property is $444,900.
What are key features of this property?
This property features: Five‑unit apartment building with 3,202 square feet; Fully electric property with 3 occupied and 2 vacant units; Renovated approximately 5 years ago
