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Property profile & analytics
FOR SALE
Apartment buildings
665 E Pontotoc Ave Memphis, TN 38126
Individually Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-1625067
For Sale
1 / 5
$649,000
665 E Pontotoc Ave, Memphis, TN 38126
View Listing →
Property summary
AI-generated overview
This exceptional investment opportunity presents a two-story apartment building situated on a 0.27-acre lot in Memphis, Tennessee. Built in 1967, the brick structure features a pitched shingle/shake roof and a slab foundation. Located in the South Bluffs/downtown area, specifically the Shepherd Blk 59 subdivision, this property offers convenient access to FedEx Forum via MLK Ave, Orleans St, and Pontotoc Ave. The building's construction is of brick, and it boasts two levels. Annual property taxes are $643. The sale includes the building and land. This multifamily property presents a strong investment opportunity in a desirable Memphis neighborhood. The property is currently listed as active. Further details regarding ownership expenses are available upon request.
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1967
Total area
5,600 SF
Lot
0.27 ac (11,674 SF)
Zoning code
EMP
APN
007-016- - -00003
UPID
US80-1625067
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Jake Lipsey · 12 yrs held
Jake Lipsey
since 2013
1 recorded transaction
Zoning & alternative use
EMP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2022Property tax & assessments
Tax year 2022
Tax billed
$1,135
Tax year 2022
Assessed value
$18,640
Assessed 2023
Previous assessed
$18,640
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$10,440
Assessed improvement
$8,200
Land market value
$26,100
Improvement market value
$20,500
Total market value
$46,600
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
For Sale
Year built
1967
Heating
FORCED AIR
Cooling
NONE
Stories
1
Units
8
Bathrooms
1
Total area
5,600 SF
Lot
0.27 ac (11,674 SF)
Zoning code
EMP
APN
007-016- - -00003
UPID
US80-1625067
Jurisdiction
SHELBY
Zoning & alternative use
EMP · Memphis, TN
Zoning EMP · permitted uses
EMP · 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.
Building & site characteristics
From public records
Year built
1967
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
8
Bathrooms
1
Lot
0.27 ac
Current owner
From public records · entity-resolved
Jake Lipsey
Individual
Free & Clear · 12 yrs held
Mailing address
5654 GLADE VW DR, MEMPHIS, TN 38120-2258
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 26, 2013
—
Jake Lipsey
Bensky,cheryl G R
Grant Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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