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784 Porter St
Memphis, TN 38126 South City

$250,000 USD

Apartments For Sale  •  5,260 SF

Property Details

• Property Type Apartments
• Total Building Size 3,200 SF
• Lot Size 0.21 AC
• Building Class C
• Year Built 1960
• Cap Rate 7.44 %
• Zoning I-L

30 Transit Score

47 Walk Score

Highlights

Property is 3,200 SF, consisting of 6 units across 2 stories, and is a Class C construction/condition.

Offered below replacement cost.

All units are 1 bed / 1 bath, with an average of approximately 533 SF each.

Recently renovated in 2023.

With 4 vacant units, this provides a significant opportunity for value-add investors.

Once stabilized, this could be a reliable cash-flowing asset with MHA (Memphis Housing Authority) backing.

Cap Rate:

7.44 %

Major Tenants

Tenant	SF Occupied	Lease End Date
Lawrence Steven Andros

Amenities

• Kitchen

Public Transportation

Commuter Rail	Drive	Walk	Distance
Central Station (Riverfront Loop - Memphis Area Transit Authority Trolley (MataTrolley))	5 min	-	1.9 mi
Airport	Drive	Walk	Distance
Memphis International	18 min	-	8.8 mi