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Property profile & analytics
FOR SALE
Garden apartment buildings

4390 Kamali Ct Memphis, TN 38128

10,912 SF 0.99 ac lot Built 1960
Entity Owned 7-yr Hold Free & Clear
Property ID
US80-0458136
Property summary
AI-generated overview

This exceptional value-add investment opportunity presents a 21-unit apartment building located at 4390 Kamali Court, Memphis, Tennessee, 38128. The property, built in 1960, consists of three two-story buildings, offering a total of 21 townhome-style units. Each unit features two bedrooms and one and a half bathrooms, with a unique layout including one full bath upstairs and a half bath downstairs. Individual unit meters for utilities, central heating and air conditioning, and washer/dryer hookups are standard. Importantly, each unit also includes an emergency shut-off valve. Currently, the property boasts 14% occupancy, with three tenants holding month-to-month leases. A significant portion of the property requires complete renovation

Property profile
Verified
Property type Garden apartment buildings
Use group GARDEN APT, COURT APT (5+ UNITS)
Year built 1960
Construction FRAME
Total area 10,912 SF
Lot 0.99 ac (42,994 SF)
Zoning code CMU-3
APN 088-007- - -00020-C
UPID US80-0458136
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
$275k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$275k
Owner & transaction history
Hammond Group LLC · 7 yrs held
Hammond Group LLC
since 2019
7 recorded transactions
2019
$235,000
2018
Price N/A
2018
Price N/A
2017
$168,100
2008
$497,356
2006
$575,000
1969
Price N/A
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

3. Commercial Mixed Use - 3 (CMU-3) The CMU -3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations with direct access to arterials. Residential uses are allowed on the ground floor but upper -story units are encouraged. Typical uses in this…

Zone name Commercial Mixed Use 3
General category MIXED_USE
Zone area 4,582.25 ac
Source CHAPTER 1
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