REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Aubrey D Tilson

aubrey.tilson@crye-leike.com +1(901) 618-7250

$ 5,500,000

Est. payment | -/mo

Save

$ 5,500,000

Est. payment | -/mo

Save

Key Details

Property Type Multi-Family, Condo

Sub Type Flat/Garden Units

Listing Status Active

Purchase Type For Sale

Subdivision Crutchfield

MLS Listing ID 10225795

Year Built 1964

Annual Tax Amount $55,451

Property Sub-Type Flat/Garden Units

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.

Location

State TN

County Shelby

Area Westside

Interior

Heating Central, Electrical, Individual Systems

Cooling Central, Individual Cooling

Flooring 8 Feet, Dry Wall, Tile, Vinyl Floor

Equipment Refrigerator, Cooktop/Wall Oven, Disposal, Dishwasher, Exhaust Fan/Vent Hood, Microwave, Smoke Detector(s)

Laundry Common Laundry, Equipment Owned

Exterior

Parking Features Asphalt/Blacktop, Secured

Roof Type Flat,Roll

Building

Story 2

Foundation Laundry Facility, Slab

Water Electrical, Individual System, Public Sewer, Public Water

Others

Miscellaneous Curbs/Gutters,Sidewalks,Some Landscaping,Wood Fence,Chain Fence,Partically Fenced,Security Gate

Listed by Jordan U Schieffler • Ware Jones, REALTORS

Nearby Locations

GET MORE INFORMATION

Aubrey D Tilson

REALTOR® | Lic# 299942

aubrey.tilson@crye-leike.com

+1(901) 618-7250

6525 N Quail Hollow Rd Memphis, TN, 38120

3236 MILLINGTON RD Memphis, TN 38127

Aubrey D Tilson

Key Details

Location

Interior

Exterior

Building

Others

3236 MILLINGTON RD