3236 Millington Rd - Apartments FOR SALE


Memphis, TN 38127- Frayser
$6,900,000 USD
866-468-6487
3236 Millington Rd, Memphis, TN for Sale
$6,900,000 USD
Apartments - FOR SALE
1/48
null | Request Cap Rate

3236 Millington Rd
Memphis, TN 38127
Frayser


HIGHLIGHTS

  • Fully Renovated Turn Key Property With On Site Manager
  • 76-unit multifamily community featuring all 2019 renovations and strong curb appeal
  • $1,000,000 Value Add Business Plan

OVERVIEW

100Units.com presents Urban Bayou Apartments which is a 76 unit turn key multifamily complex that has recently been renovated in 2019 including all new electrical meter banks, wiring and breaker panels for every unit, all new roofing and all new PCV plumbing and all new kitchen cabinets, countertops and bathrooms with full tub surround tile and new flooring throughout, all new central ACs, tankless water heaters and full fencing and security system including two cameras on each building and gated access and all new double pain windows and new doors. The property is constructed of brick exteriors and flat roofing consisting of 10 two-story apartment buildings. The unit mix is 12 one bedroom one bath units and 64 two bedroom one baths units. Units feature central air-conditioning, balconies and walk-in closets. Electric is separately metered and paid for the tenants; water, sewer, and trash is paid for by the landlord. The complex features a private security gate, security cameras, laundry facility on site offering additional income. Ideally situated in North Memphis near the Millington submarket, Urban Bayou Apartments offers residents convenient access to major employment centers, shopping, and outdoor recreation. The property is just minutes from Highway 51 and a short drive to downtown Memphis, Meeman-Shelby Forest State Park, and the Naval Support Activity Mid-South Base—one of the region’s largest employers. This central yet peaceful location provides excellent tenant appeal with proximity to schools, parks, and local retail, supporting strong occupancy and long-term rental demand.

FOR SALE DETAILS

PRICE

$6,900,000 USD

PRICE/SF

$74 USD /SF

# OF UNITS

76

PRICE/UNIT

$90,789

CAP RATE

Request Cap Rate

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Urban Bayou Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.41 AC

LAND SF

192,100 SF

ZONING

CH

APN/PARCEL ID

06-9033-0-0014C

ASK ABOUT THIS PROPERTY

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Joe LaFleur100Units.comMore Info
866-468-6487

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.