15 Barksdale StMemphis, TN 38104

Property Details for 15 Barksdale St

Year built

1930

Property size (Sq ft)

3,361 SF

Property type

Apartment buildings

Description

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.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.137

Longitude

-89.9987

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