3236 Millington Rd, Memphis, TN 38127
- $5,500,000
- List Price
- $5,500,000
- MLS#
- 10225795
- Property Type
- Multifamily
- Lot Size
- 225.85 X 355 IRR
- Status
- ACTIVE
Property Description
Welcome to Urban Bayou Apartments! By far the nicest complex in this fast developing area. Immediate Cash Flow, turn key, garden style apartment complex. 76 units, 16 1 bedroom and 60 2 bedroom with a total of 10 buildings including a laundry facility and maintenance building. 1st floor units have tile flooring/2nd floor units have LVP. Currently 66 of the units are rented - fully rented potential is $61K monthly. On site office/property manager! Major upgrades in 2019 including new roof, HVAC, electrical, plumbing plus a total rehab of each unit. Recently HWH have been upgraded to tankless. Laundry facility is currently not in use but all owned equipment so it would profit $800 - 1500 per month. This is an incredible opportunity to invest in a turn key property but with room for improvements to boost its profitability even more.
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Additional Information
- Annual City Tax
- 27151
- Annual County Tax
- 28300
- Construction
- Brick/Veneer
- Foundation
- Laundry Facility, Slab
- Hot Water
- Electrical, Individual System, Public Sewer, Public Water
- Legal Subdivision
- Crutchfield
- Lot
- 1
- Lot Size
- 225.85 X 355 IRR
- New Financing
- Conventional, Other (Call LA), Private
- Occupancy
- 87
- Parking Facility
- Asphalt/Blacktop, Secured
- Roof
- Flat, Roll
- Stories
- 2
- Subdivision
- CRUTCHFIELD
- Subtype
- Flat/Garden Units
- Tenant Pays
- Electric, Gas, Pet Depost, Security Deposit, Some Utilities
- Year Built
- 1964
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Listing courtesy of Ware Jones, REALTORS.
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