For Sale
$469,000

15 Barksdale StMemphis, TN 38104

Booming Midtown, 3-unit apartment building.

Overview

Added:
Jan 24
Days on market:
70
This exceptional investment opportunity presents a meticulously renovated three-unit apartment building in Memphis' thriving Midtown neighborhood. The property comprises two charming townhouse-style units, each boasting two bedrooms and one and a half bathrooms, and a separate, detached one-bedroom, one-bathroom unit. All units have undergone a complete transformation, featuring upgraded kitchens and bathrooms with granite countertops, modern cabinetry, and stainless steel appliances. Further enhancing the appeal, each unit includes a full-sized washer and dryer. Significant improvements extend beyond the interiors, encompassing a new roof, completely updated electrical and plumbing systems, and a new HVAC system for all three units. Sitting on an 8,494 square foot lot, this 3,361 square foot building, constructed in 1930, offers a compelling value-add investment opportunity with a current 100% occupancy rate, generating a NOI of $34,347 and a 7.32% cap rate. The asking price is $469,000, translating to $139.54 per square foot and $156,333.33 per unit. This property is a turnkey investment ready for immediate income generation. Drive-by viewing only; please do not disturb residents.

Highlights

  • $469,000 asking price for a three-unit apartment building in Memphis, TN.
  • 7.32% cap rate with a $34,347 NOI.
  • 100% occupancy.
  • Recently renovated with upgraded kitchens and baths, new roof, HVAC, electrical, and plumbing.
  • Features stainless steel appliances, granite countertops, and full-size washers and dryers.
  • Three units totaling 3,361 square feet on an 8,494 square foot lot.

Property Details for 15 Barksdale St

Property type
Apartment buildings
Square Feet
3,361 SF
Class
B
Year Built
1930
Buildings
2
Stories
2
Units
3

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.1370063
Longitude
-89.9987507
15 Barksdale St, Memphis, Tennessee

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15 Barksdale St
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