52-Unit Apartment
New
For Sale
Contact for pricing
3989 North Watkins Street, Memphis, TN 38127
Seven-building apartment community with renovated residences and an additional standalone building for future on-site use.
Property Size35,000 SF
Price / SF$37
Days on Market5
Property Features for 3989 North Watkins Street
General Information
Standard status
Active
Size
35,000 SF
Class
C
Property subtype
Multifamily
Occupancy
86%
Investment Type
Value Add
Net Operating Income
$120,000
Units
Unit Mix
26 x 1BR, 24 x 2BR
Multifamily Units
52
Additional Details
Highway Access
Yes
Building Details
Year Built
1959
Buildings
7
Stories
2
Units
52
Tenancy
Multi
Listing Agency:
901 Properties
(901) 490-4770
Listed By:
Brook Loper · License #TN 322379
Source:
Crexi
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 9:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of 901 Properties
Investment Insights
Based on property information with market context.
Located at 3989 North Watkins Street, this apartment community contains 52 units across seven residential buildings totaling approximately 35,000± square feet. The property was built in 1959 and includes renovated residences, with additional units positioned for continued improvement and leasing activity. An independent building on the site provides space for a potential laundromat, subject to applicable approvals and development decisions.
The community is situated in Memphis, Tennessee, within five miles of Amazon, Nike, manufacturing employers, and healthcare employment centers. Access to U.S. Highway 51, Interstate 40, Downtown Memphis, shopping, schools, and daily services supports the property's established residential setting. Existing occupancy provides an operating base, while the source information identifies renovation, lease-up, and rent adjustments as potential avenues for further income growth.
The community is situated in Memphis, Tennessee, within five miles of Amazon, Nike, manufacturing employers, and healthcare employment centers. Access to U.S. Highway 51, Interstate 40, Downtown Memphis, shopping, schools, and daily services supports the property's established residential setting. Existing occupancy provides an operating base, while the source information identifies renovation, lease-up, and rent adjustments as potential avenues for further income growth.
Key Highlights
- 52‑unit multifamily community across seven residential buildings
- Approximately 35,000± square feet of residential improvements
- Built in 1959
Property Analytics
Property Profile
Current Use
Lease Details
52
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 38127, TN
40,679
Population
17,560
Households
2.3
Avg Household Size
33
Median Age
11%
College-Educated
83%
High-School Grad
37.8 sq mi
ZIP Area
1,076
Density / Sq Mi
$37,768
Median Household Income
$31,790
Median Earnings
$1,104
Median Rent
$82,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-building apartment community with renovated residences and an additional standalone building for future on-site use.
Where is this apartment building located?
The property is located at 3989 North Watkins Street Memphis, TN.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 52‑unit multifamily community across seven residential buildings; Approximately 35,000± square feet of residential improvements; Built in 1959
