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Urban Bayou Apartments 3236 Millington Rd 76 Unit Apartment Building $6,900,000 ($90,789/Unit) Memphis, TN 38127
INVESTMENT HIGHLIGHTS
- Fully Renovated Turn Key Property With On Site Manager
- $1,000,000 Value Add Business Plan
- 76-unit multifamily community featuring all 2019 renovations and strong curb appeal
EXECUTIVE SUMMARY
100Units.com presents Urban Bayou Apartments which is a 76 unit turn key multifamily complex that has recently been renovated in 2019 including all new electrical meter banks, wiring and breaker panels for every unit, all new roofing and all new PCV plumbing and all new kitchen cabinets, countertops and bathrooms with full tub surround tile and new flooring throughout, all new central ACs, tankless water heaters and full fencing and security system including two cameras on each building and gated access and all new double pain windows and new doors. The property is constructed of brick exteriors and flat roofing consisting of 10 two-story apartment buildings. The unit mix is 12 one bedroom one bath units and 64 two bedroom one baths units. Units feature central air-conditioning, balconies and walk-in closets. Electric is separately metered and paid for the tenants; water, sewer, and trash is paid for by the landlord. The complex features a private security gate, security cameras, laundry facility on site offering additional income. Ideally situated in North Memphis near the Millington submarket, Urban Bayou Apartments offers residents convenient access to major employment centers, shopping, and outdoor recreation. The property is just minutes from Highway 51 and a short drive to downtown Memphis, Meeman-Shelby Forest State Park, and the Naval Support Activity Mid-South Base—one of the region’s largest employers. This central yet peaceful location provides excellent tenant appeal with proximity to schools, parks, and local retail, supporting strong occupancy and long-term rental demand.
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $6,900,000 | Building Class | C |
| Price Per Unit | $90,789 | Lot Size | 4.41 AC |
| Sale Type | Investment | Building Size | 93,744 SF |
| No. Units | 76 | Average Occupancy | 96% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1964 |
| Apartment Style | Garden | Parking Ratio | 1.79/1,000 SF |
| Zoning | CH | ||
| Price | $6,900,000 |
| Price Per Unit | $90,789 |
| Sale Type | Investment |
| No. Units | 76 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.41 AC |
| Building Size | 93,744 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.79/1,000 SF |
| Zoning | CH |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Storage Space
- Washer/Dryer Hookup
- Ceiling Fans
- Tile Floors
- Hardwood Floors
- Satellite TV
- Walk-In Closets
- Carpet
SITE AMENITIES
- 24 Hour Access
- Clubhouse
- Fitness Center
- Laundry Facilities
- Playground
- Tennis Court
- Trash Pickup - Curbside
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
| 2+1 | 64 | - | 900 |
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PROPERTY TAXES
| Parcel Number | 06-9033-0-0014C | Total Assessment | $1,052,040 (2025) |
| Land Assessment | $47,160 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,004,880 (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
06-9033-0-0014C
Land Assessment
$47,160 (2025)
Improvements Assessment
$1,004,880 (2025)
Total Assessment
$1,052,040 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Urban Bayou Apartments | 3236 Millington Rd
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