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Property profile & analytics
OFF-MARKET
Estimated value
$6,745,000
High-rise multifamily apartments
1837 Un Ave Memphis, TN 38104-3942
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US80-3514431
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1968
Total area
96,378 SF
Lot
0.93 ac (40,424 SF)
Zoning code
CMU-3
APN
016-043- - -00021
UPID
US80-3514431
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.41M
Blend (final)
Blend
$6.75M
Owner & transaction history
Belz Harbour LLC · 8 yrs held
Belz Harbour LLC
since 2017
7 recorded transactions
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$10.9M
+29.6%
Auto repair, garage
$9.3M
+11.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Memphis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Memphis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$8,415,000
Current use
OFFICE BUILDING
$10,905,000
Change: +30% · Conversion: Moderate
AUTO REPAIR, GARAGE
$9,345,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,075,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$6.75M
Range $6.07M – $7.42M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$70 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Tax billed
$12,671
Tax year 2021
Land market value
$336,100
Improvement market value
$13,302,000
Total market value
$13,638,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1968
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
7
Total area
96,378 SF
Lot
0.93 ac (40,424 SF)
Zoning code
CMU-3
APN
016-043- - -00021
UPID
US80-3514431
Jurisdiction
SHELBY
Zoning & alternative use
CMU-3 · Memphis, TN
Zoning CMU-3 · permitted uses
CMU-3 · Memphis, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Memphis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$8.4M
OFFICE BUILDING
Est. value
$10.9M
AUTO REPAIR, GARAGE
Est. value
$9.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.1M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Heating
FORCED AIR
Cooling
Yes
Stories
7
Buildings
2
Lot
0.93 ac
Current owner
From public records · entity-resolved
Belz Harbour LLC
Entity
Mailing address
114 N MAIN ST, MEMPHIS, TN 38103-2003
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2017
$2,250,000
Belz Harbour LLC
Hrp Union-mclean LLC
Grant Deed
—
Mar 17, 2016
—
Hrp Union-mclean LLC
Tennvada Holdings 1 LLC
Quit Claim Deed
related
—
Mar 17, 2016
$1,250,000
Hrp Union-mclean LLC
Tennvada Holdings 1 LLC
Grant Deed
—
Dec 7, 2012
$500,000
Tennvada Holdings I LLC
Hewgley,michael E
Trustees Deed
related
—
Feb 15, 2011
$500,000
Tennvada Holdings LLC
Hewgley,michael E
Trustees Deed
related
—
Mar 23, 2009
—
1837 Tennvada Investments LLC
—
Trustees Deed
related
$15,000 · Neil J Beller Ltd
Jun 2, 2008
—
1837 Tennvada Investments LLC
—
Trustees Deed
related
$200,000 · Maassarani Ruth Trust (tr)
May 9, 2006
$2,850,000
1837 Tennvada Investments LLC
Moab-1 Ents INC
Warranty Deed
$1,500,000 · Frey Revekka Trust (tr)
Feb 17, 2003
$2,050,000
Moab-1 Enterprises INC
Washington Mutual Fsb
Grant Deed
$1,500,000 · Washington Mutual Fsb
Sep 23, 1999
$3,600,000
Union LLC
D & O Management Co
Grant Deed
$2,550,000 · Bank Of The West
Jun 8, 1999
—
D & O Management
Deberry,david T & Rebecca L
Quit Claim Deed
related
—
—
—
1837 Tennvada Investments LLC
—
Deed Of Trust
related
$180,000 · Harnik Family Trust (tr)
—
—
1837 Tennvada Investments LLC
—
Deed Of Trust
related
$300,000 · Frey Trust (pt)
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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