860 N 7th St
Memphis, TN 38107
North Memphis
HIGHLIGHTS
- Five units are currently occupied with rental payments backed by the Memphis Housing Authority.
- Memphis Housing Authority payment standards often exceed traditional street rents.
- Nine vacant units provide an immediate opportunity to increase asset value through lease-up.
- All 14 units feature identical two-bedroom, one-bathroom floor plans, enabling streamlined management and maintenance.
- The building comprises approximately 10,500 square feet and is situated on a 0.49-acre lot.
OVERVIEW
Sands Investment Group is pleased to exclusively offer for sale the 10,500 SF, 14-Unit Apartment property located at 860 N 7th Street in Memphis, Tennessee. The asset benefits from government-backed cash flow, with five units occupied by Memphis Housing Authority (MHA) voucher tenants, providing reliable, consistent rental income supported by public funding. The property also offers a compelling value-add opportunity, with nine vacant units allowing a new owner to immediately enhance cash flow through lease-up.
In Cooperation With Sands Investment Group Tennessee, LLC - Lic. #263973 BoR: Tom Gorman - Lic. TN #370394
FOR SALE DETAILS
PRICE
$700,000 USD
PRICE/SF
$67 USD /SF
# OF UNITS
14
PRICE/UNIT
$50,000
CAP RATE
Request Cap Rate
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
14-Unit Apartment - Memphis, TN
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
ADD'L SUBTYPES
Storefront Retail/Residential, Manufactured Housing/Mobile Housing, Office/Residential
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1965
PARKING SPACES
8
LAND DETAILS
LAND ACRES
0.49 AC
LAND SF
21,344 SF
ZONING
MDR
APN/PARCEL ID
02-2032-0-0041
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404-459-6240
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