3236 Millington Rd, Memphis, TN 38127
- $5,500,000
- List Price
- $5,500,000
- Status
- ACTIVE
- Days on Market
- 21
- MLS#
- 10225795
- Year Built
- 1964
- Lot Size
- 225.85 X 355 IRR
- Subdivision
- CRUTCHFIELD
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.
/u.realgeeks.media/emanuelpropertynetwork/acd37b7aa156-Emanuel_Martinez_print_1.JPG)
Additional Information
- Exterior Construction
- Brick/Veneer
- Stories
- 2
- Roof
- Flat, Roll
- Foundation
- Laundry Facility, Slab
Mortgage Calculator
Listing courtesy of Ware Jones, REALTORS.
Some or all of the listings displayed may not belong to the firm whose website is being visited
Copyright© 2026 Memphis Area Association of REALTORS®. The information provided is for the consumer's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties that the consumer may be interested in purchasing. Information deemed reliable, but is not guaranteed accurate. Some or all of the listings displayed may not belong to the firm whose web site is being visited.