207 Barksdale St Memphis, TN 38104-4057

This exceptional 10-unit apartment building, located at 207 S Barksdale St, Memphis, TN 38104, presents a compelling investment opportunity. The property, built in 1963 and situated on a half-acre lot, features a two-story structure offering ten identical two-bedroom, one-and-a-half-bathroom apartments. Each unit boasts a living/dining room, fully equipped kitchen, and in-unit laundry. Residents enjoy a common courtyard and covered parking. Extensive renovations completed in 2019 included new roofs (front and back), parking lot, doors, windows, flooring, kitchen cabinets, granite countertops, stainless steel appliances, lighting, bathroom fixtures, plumbing, HVAC systems, hot water heaters, landscaping, and a new courtyard. The property is currently financed with a 3.88% fixed-rate Freddie Mac Small Balance Loan, amortized over 30 years, with interest-only payments for the first 36 months (November 2021 – October 2024). The loan is non-recourse (excluding certain exceptions) and assumable with a 1% fee. The loan matures October 1, 2031. This turnkey investment offers a strong return with significant recent upgrades and a favorable financing structure. The asking price is $1,700,000, representing $170,000 per unit.