Barksdale Apartments | 207 S Barksdale St
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Barksdale Apartments 207 S Barksdale St
10 Unit Apartment Building $1,700,000 ($170,000/Unit) Memphis, TN 38104
Executive Summary
207 S. Barksdale Street is a ten-unit garden-style apartment complex located in midtown Memphis, Tennessee. All ten of the apartments are two bedrooms, one and one-half bath with a living/dining room and a fully appointed kitchen and in-unit laundry. There is a common courtyard for the tenants’ use, and covered parking.
Renovations in 2019 include new roofs on the back and front sections of the building, new parking lot, new doors and windows, new flooring, new kitchen cabinets, granite countertops and stainless steel appliances, new lighting, new bathroom fixtures, granite countertops, and tile. Where needed, plumbing, HVAC, and hot water heaters were upgraded. New landscaping and a new courtyard were added.
3.88% fixed rate Freddie Mac Small Balance Loan Program note payable to CBRE dated September 15, 2021 and matures on October 1, 2031. The loan is amortized over 30 years. The first 36 months (November 2021 – October 2024) are interest only. The loan is non-recourse , and assumable with a 1% assumption fee.
Renovations in 2019 include new roofs on the back and front sections of the building, new parking lot, new doors and windows, new flooring, new kitchen cabinets, granite countertops and stainless steel appliances, new lighting, new bathroom fixtures, granite countertops, and tile. Where needed, plumbing, HVAC, and hot water heaters were upgraded. New landscaping and a new courtyard were added.
3.88% fixed rate Freddie Mac Small Balance Loan Program note payable to CBRE dated September 15, 2021 and matures on October 1, 2031. The loan is amortized over 30 years. The first 36 months (November 2021 – October 2024) are interest only. The loan is non-recourse , and assumable with a 1% assumption fee.
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- Offering Memorandum
Property Facts
| Price | $1,700,000 | Apartment Style | Garden |
| Price Per Unit | $170,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.50 AC |
| No. Units | 10 | Building Size | 9,576 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1963 |
| Price | $1,700,000 |
| Price Per Unit | $170,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 9,576 SF |
| No. Stories | 2 |
| Year Built | 1963 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 10 | $1,500 | - |
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Walk Score®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 01-6051-0-0009 | Improvements Assessment | $298,160 |
| Land Assessment | $31,920 | Total Assessment | $330,080 |
PROPERTY TAXES
Parcel Number
01-6051-0-0009
Land Assessment
$31,920
Improvements Assessment
$298,160
Total Assessment
$330,080
zoning
| Zoning Code | RU-3 |
| RU-3 |
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Barksdale Apartments | 207 S Barksdale St
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