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.
For sale
$5,500,000
3236 Millington Rd, Memphis, TN 38127
--beds
--baths
61,458sqft
:
Get pre-qualified$36,674/mo
Multi Family
Built in 1964
-- sqft lot
$-- Zestimate®
$89/sqft
$-- HOA
What's special
- 30 days |
- 311 |
- 17 |
Zillow last checked:
Listing updated:
Listed by:
Jordan U Schieffler,
Ware Jones, REALTORS 901-450-4011
Source: MAAR,MLS#: 10225795
Facts & features
Interior
Heating
- Central, Electric, Individual Systems
Cooling
- Central Air, Individual Cooling
Appliances
- Included: Refrigerator, Cooktop/Wall Oven, Disposal, Dishwasher, Exhaust Fan/Vent Hood, Microwave, Electric Water Heater
- Laundry: Common Area, Equipment Owned, In Basement
Features
- Square Feet Source:AutoFill (MAARdata) or Public Records (Cnty Assessor Site)
- Flooring: Tile, Vinyl
Interior area
- Total interior livable area: 61,458 sqft
Property
Parking
- Parking features: Asphalt/Blacktop, Secured
Features
- Stories: 2
- Exterior features: Curbs/Gutters, Sidewalks, Some Landscaping
- Fencing: Wood,Chain Link,Partial
Lot
- Size: 4.72 Acres
- Dimensions: 225.85 x 355 IRR
Details
- Parcel number: 069033 00014C
- Zoning: RU-3
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Brick Veneer, Dry Wall
- Foundation: Slab
- Roof: Flat,Rolled/Hot Mop
Condition
- Year built: 1964
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Balcony/Patio, B-B-Q Pit/Area, Leasing Office, Maintenance Office, Dumpster
- Security: Smoke Detector(s), Security Gate
- Subdivision: Crutchfield
Location
- Region: Memphis
Financial & listing details
- Price per square foot: $89/sqft
- Tax assessed value: $2,630,100
- Annual tax amount: $55,451
- Date on market: 7/10/2026
- Listing terms: Conventional,Other (Call LA),Private Financing Available
- Inclusions: All Appliances, All Equipment, Signage, Some Furnishing
- Lease term: 12 Months
- Tenant pays: Electricity, Gas, Pet Depost, Security Deposit, Some Utilities
Estimated market value
Not available
Estimated sales range
Not available
$998/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/10/2026 | Listed for sale | $5,500,000+20.6%$89/sqft |
Source:  MAAR #10225795 Report a problem | ||
| 9/5/2023 | Sold | $4,560,000-8.8%$74/sqft |
Source: Public Record Report a problem | ||
| 3/25/2023 | Listing removed | -- |
Source: BHHS broker feed Report a problem | ||
| 1/7/2023 | Price change | $5,000,000-12.3%$81/sqft |
Source: MAAR #10138998 Report a problem | ||
| 10/31/2022 | Listed for sale | $5,700,000-12.3%$93/sqft |
Source: MAAR #10136726 Report a problem | ||
| 9/1/2022 | Listing removed | -- |
Source: BHHS broker feed Report a problem | ||
| 8/31/2022 | Listed for sale | $6,500,000$106/sqft |
Source: BHHS broker feed #10118929 Report a problem | ||
| 8/29/2022 | Contingent | $6,500,000$106/sqft |
Source: MAAR #10118929 Report a problem | ||
| 5/2/2022 | Price change | $6,500,000+18.2%$106/sqft |
Source: MAAR #10118929 Report a problem | ||
| 3/21/2022 | Price change | $5,500,000-26.7%$89/sqft |
Source: MAAR #10118929 Report a problem | ||
| 3/7/2022 | Listed for sale | $7,500,000+2400%$122/sqft |
Source: MAAR #10118929 Report a problem | ||
| 2/3/2017 | Sold | $300,000+900%$5/sqft |
Source: Public Record Report a problem | ||
| 3/17/2016 | Sold | $30,000-62.5% |
Source: Public Record Report a problem | ||
| 4/24/2014 | Sold | $80,000$1/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $55,451 -23.2% | $1,052,040 -4.1% |
| 2024 | $72,231 +8.1% | $1,096,840 |
| 2023 | $66,816 | $1,096,840 |
| 2022 | -- | $1,096,840 |
| 2021 | -- | $1,096,840 +22.9% |
| 2020 | $3,775 | $892,400 +655.5% |
| 2019 | $3,775 -21.1% | $118,120 |
| 2018 | $4,784 -45.1% | $118,120 |
| 2017 | $8,719 -33.5% | $118,120 -54.5% |
| 2016 | $13,102 +226.7% | $259,600 |
| 2014 | $4,010 | -- |
| 2013 | -- | -- |
| 2012 | -- | -- |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2008 | -- | $251,480 |
| 2007 | -- | $251,480 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Shelby Forest-Frayser
Nearby schools
GreatSchools rating
- 4/10Westside Elementary SchoolGrades: PK-5Distance: 0.6 mi
- 4/10Grandview Heights MiddleGrades: 6-8Distance: 2.4 mi
- 3/10Trezevant High SchoolGrades: 9-12Distance: 2.9 mi
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A local agent can set up tours, give advice and negotiate with sellers.
