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South City Multifamily Homes & Duplexes for Sale

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  • /13

    $195,000

    • 4 Beds
    • 2,460 Sq Ft

    877 Polk Ave, Memphis, TN 38126

    Investor special on this 4plex offers an excellent investment opportunity. Each unit features 1 bedroom and 1 bathroom, with standard renovations completed to make the property rent-ready. The property is being sold as-is and can be delivered vacant, providing flexibility for the new owner. Previously appraised for $215k and is back on the market due to no fault of the seller. Currently, one unit

    Cali Neal KAIZEN Realty, LLC

    877 Polk Ave, Memphis, TN 38126
  • /13

    $550,000

    • 20 Beds
    • 6,150 Sq Ft

    486 E Georgia Ave, Memphis, TN 38126

    Fully Renovated & Fully Occupied 10 Unit Apartment Building~Each Apartment is 2BR/1BA~Each Unit Recently Renovated~All Tenants on Month-to-Month Lease~No Showings without Accepted Offer~Please Do Not Disturb Tenants

    Jennifer Carstensen Real Estate Agency

    486 E Georgia Ave, Memphis, TN 38126

Why Live in South City

South City in Memphis is a historic neighborhood that has been a significant part of the city's racial equality movement since its merger with Memphis in 1849. The area has undergone substantial changes, particularly with the demolition of the Foote Homes public housing project in 2017 and the introduction of new mixed-income housing in 2019. This transformation has led to a significant population turnover, with nearly 80% of residents being new to the community. Organizations like the Emmanuel Center play a crucial role in fostering community connections, providing free academic enrichment and safe spaces for children. Housing in South City is predominantly rental, with subdivisions like Foote Park at South City and Cleaborn Point at Heritage Landing offering various amenities. New mixed-income properties continue to be developed, with the fifth phase completed in 2024. The neighborhood is served by the Memphis-Shelby County district, with schools like LaRose Elementary and Booker T. Washington Middle and High offering various educational resources and programs. Local features include L.E. Brown Park, which has a basketball court, playground, and pool, and the Cornelia Crenshaw Memorial Library, which offers financial literacy courses and book clubs. Dining options are limited within the neighborhood, but downtown restaurants are less than 2 miles away. South City also hosts the annual South City Heritage Fest, celebrating its rich history with local vendors and live performances. Despite economic challenges, with median incomes significantly lower than the state average, efforts by organizations like SCORE Community Development Corporation aim to improve community engagement and reduce crime rates.

Home Trends in South City, TN

Housing Trends

Median Sale Price
$66,000
Median Single Family Sale Price
$68,000
Median Townhouse Sale Price
$450,000
Average Price Per Sq Ft
$66
Number of Homes for Sale
2
Last 12 months Home Sales
5
Months of Supply
4.80
Median List Price
$87,000
Median Change From 1st List Price
4%
Median Home Sale Price YoY Change
120%
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