Four-Unit Multifamily
For Sale
$399,999
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$147.06
Days on Market9
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:
Lawrence Johnson, Realtors
(901) 591-8100
Listed By:
John Quinn
(901) 591-8100
Source:
Johnquinnrealestate
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 26 at 12:43PM
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 Lawrence Johnson, Realtors
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,939
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 5.73%
Second Best
Apartment 5plus
$290.1K
$253.9K – $338.5K
NOI $20,310 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$803.9K
$703.4K – $937.9K
NOI $56,271 @ 7.0% cap · market cap 14.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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 $399,999.
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
