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207 South Barksdale Street

Memphis TN 38104

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The Offering

Summary

Price $1,700,000
Number of Units 10
Price per unit $170,000
Year Built 1963
Number of buildings 3
Number of stories 2
Land area .50 ac

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 (with the exception of certain “bad boy” provisions), and assumable with a 1% assumption fee.