Low-Rise Garden Apartment
737 Court Avenue Memphis, TN 38105
For Sale
Contact for pricing
Faulkner Court Apartments is a low-rise garden-style apartment community for sale in central Memphis near major attractions.
Property Size3,362 SF
Price / SF$208.21
Days on Market91
Property Features for 737 Court Avenue
General Information
- Standard status
- Active
- Size
- 3,362 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1965
Listing Agency:
Woodyard Realty Corporation
(901) 767-1998
Listed By:
Steve Woodyard · License #TN 217464
Source:
Crexi
Added: Apr 24
Changed: Jul 23
Last Checked: Jul 23 at 11:59AM
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.
Faulkner Court Apartments offers a low-rise, garden-style multifamily configuration and is available for sale. The property is positioned as a residential income opportunity, catering to investors focused on garden-style apartment living.
Located at 737 Court Avenue in Memphis, the community is described as being near area amenities and cultural attractions. Public remarks highlight proximity to Beale Street, the Orpheum Theatre, the Mississippi Riverfront, and the South Main Arts District, placing the property within reach of Memphis entertainment, dining, and arts.
As presented, Faulkner Court Apartments is suited for multifamily and low-rise/garden investment strategies, with nearby destinations supporting resident access to the city’s central entertainment and cultural offerings.
Located at 737 Court Avenue in Memphis, the community is described as being near area amenities and cultural attractions. Public remarks highlight proximity to Beale Street, the Orpheum Theatre, the Mississippi Riverfront, and the South Main Arts District, placing the property within reach of Memphis entertainment, dining, and arts.
As presented, Faulkner Court Apartments is suited for multifamily and low-rise/garden investment strategies, with nearby destinations supporting resident access to the city’s central entertainment and cultural offerings.
Key Highlights
- Faulkner Court Apartments is a low‑rise, garden‑style apartment community in central Memphis, TN.
- Year built: 1965.
Financial Insights For Apartment 5plus
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 | $48.8k | $14.52 |
| − Vacancy | −$3.2k | −$0.94 |
| EGI | $45.6k | $13.58 |
| − OpEx | −$20.5k | −$6.11 |
| NOI | $25.1k | $7.47 |
3,362 SF · lease $14.52/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$358.6K
$313.8K – $418.4K
NOI $25,104 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$993.6K
$869.4K – $1.16M
NOI $69,553 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Faulkner Court Apartments is a low-rise garden-style apartment community for sale in central Memphis near major attractions.
Where is this apartment building located?
The property is located at 737 Court Avenue Memphis, TN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Faulkner Court Apartments is a low‑rise, garden‑style apartment community in central Memphis, TN.; Year built: 1965.
