Four-Unit Multifamily
For Sale
$394,999
750 Chelsea Ave, Memphis, TN 38107
Fully occupied fourplex with washer-dryers, gated parking, and convenient access to Downtown Memphis.
Property Size2,720 SF
Price / SF$145.22
Days on Market54
Property Features for 750 Chelsea Ave
General Information
Standard status
Active
Size
2,720 SF
Property subtype
Multi-Family
Building Details
Year Built
1965
Listing Agency:
Keller Williams
Listed By:
John Quinn · License #3298267
(901) 591-8100
Source:
Johnquinnrealestate
Added: Aug 22
Changed: Oct 13
Last Checked: Oct 12 at 7:52PM
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 Keller Williams
Investment Insights
Based on property information with market context.
Built in 1965, this 2,720-square-foot quadplex contains four two-bedroom, one-bath residences and is fully occupied. Recent property improvements include washer-dryers, while gated parking serves the residents. The compact four-unit layout provides a clearly defined multifamily configuration within a single property.
Located at 750 Chelsea Ave in Memphis, the property is near shopping, dining, and major highways. Downtown Memphis and the Bass Pro Pyramid are accessible from the site. Residents handle electric, gas, and trash, while water is paid by the owner.
Located at 750 Chelsea Ave in Memphis, the property is near shopping, dining, and major highways. Downtown Memphis and the Bass Pro Pyramid are accessible from the site. Residents handle electric, gas, and trash, while water is paid by the owner.
Key Highlights
- Four units, each with 2 bedrooms and 1 bath
- 2,720 square feet across the quadplex
- Built in 1965
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,939
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,780
$458.8K
Cap Rate 7%
$327,700
$327.7K
Cap Rate 9%
$254,878
$254.9K
Market Conditions
NOI Build-Up for 2,720 SF
Gross rent
$34.9K $12.84/SF
− Vacancy
−$2.2K −$0.79/SF
EGI
$32.8K $12.05/SF
− OpEx
−$9.8K −$3.61/SF
NOI
$22.9K $8.43/SF
Area
Memphis, TN
Vacancy
6.17%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,780
Cap Rate 7%
$327,700
Cap Rate 9%
$254,878
Alternative Uses
Best Use
Multifamily LT 5
$327.7K
$286.7K – $382.3K
NOI $22,939 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$290.1K
$253.9K – $338.5K
NOI $20,310 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$803.9K
$703.4K – $937.9K
NOI $56,271 @ 7.0% cap · market cap 14.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
458
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?
Quadplex - Fully occupied fourplex with washer-dryers, gated parking, and convenient access to Downtown Memphis.
Where is this quadplex located?
The property is located at 750 Chelsea Ave Memphis, TN.
What is the asking price?
The asking price for this property is $394,999.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bath; 2,720 square feet across the quadplex; Built in 1965
