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    528 Parkway Memphis, TN 38112

    Sponsored
    For Sale
    $2,000,000

    16-Unit Apartment Building, High Occupancy

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 16-unit apartment building located at 528 E Parkway N, Memphis, TN 38112 presents a compelling investment opportunity. Currently boasting an 88% occupancy rate, this property offers a diverse mix of studio, one-bedroom, and two-bedroom apartments, ensuring a steady stream of rental income. Each unit is equipped with all major appliances, including a washer and dryer, providing residents with convenient and comfortable living spaces. The building's prime location in Shelby County contributes to its strong rental demand and consistent high occupancy. The asking price for this multifamily property is $2,000,000. This represents a significant opportunity for investors seeking a stable and profitable addition to their portfolio. The property's strong performance history, coupled with its desirable location and well-maintained units, makes it an attractive investment prospect. Detailed financial information is available upon request. This is a turnkey investment ready to generate immediate returns. The building's current occupancy rate demonstrates its appeal to tenants and its potential for continued growth. Don't miss this chance to acquire a well-established multifamily property in a thriving Memphis neighborhood.

    Property Features for 528 Parkway

    General Information

    Property type
    Multifamily properties

    HighLights

    • $2,000,000 asking price.
    • 16‑unit apartment building in Memphis, TN.
    • 88% occupancy.
    • Mix of studio, 1‑bedroom, and 2‑bedroom units.
    • All units include appliances and washer/dryer.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9808889
    Latitude
    35.1503598

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    FAQs

    What type of property is this?
    Multifamily property - 16-Unit Apartment Building, High Occupancy
    Where is this multifamily property located?
    The property is located at 528 Parkway Memphis, TN.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: $2,000,000 asking price.; 16-unit apartment building in Memphis, TN.; 88% occupancy.
    Request Owner's contact information
    528 Parkway Memphis, TN 38112
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    528 Parkway Memphis, TN 38112
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