587 Baker Rd Martin, TN $ 3,899,500
587 Baker Rd
$ 3,899,500
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587 Baker Rd

Martin, TN, 38237
$ 3,899,500
Bedrooms8 Baths4.0 Sq 870

Monthly Estimate*

$ 24,622

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Multi-Family Home for sale in Martin, TN

for $3,899,500 with 8 bedrooms and 4 full baths. This 870 square foot home was built in 1995.

Exceptional Income-Producing Investment Opportunity! This well-maintained 36-unit apartment community is ideally located in the heart of Martin, Tennessee, just 1.2 miles from the University of Tennessee at Martin. Positioned in a thriving college town with strong, consistent rental demand, this property offers an outstanding opportunity to expand or strengthen your investment portfolio. The complex features thirty-six 2-bedroom, 1-bathroom units, each equipped with convenient washer and dryer hookups. Significant capital improvements have been completed within the past 12 months, including new roofs on Buildings A, D, E, H, and J, renovations to 16 units, and the replacement of all rear decks across the property. With a local, experienced property manager who is willing to remain in place after the sale, the new owner can benefit from a seamless transition and continued professional management. Whether you're seeking stable cash flow, long-term appreciation, or a value-add investment in a desirable university market, this property is an opportunity you won't want to miss.

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Multi-Family Active

Price

$ 3,899,500

Bedrooms

8

Full Bath

4

Property Type

Multi-Family

Taxes

$ 20,517

Style

Multi Family

Year Built

1995

Town/City

Martin

County/Region

Weakley

MLS | Web ID

3276724

Features
General
Living Area 870
Sewer Public Sewer
Heating Central
Cooling Central Air
Utilities Water Available
Possession Close Of Escrow
Zoning Commercial
Garage Spaces 0
Construction Materials Aluminum Siding Brick
Year Built 1995
Tenant Pays Cable TV Electricity Water
Stories Count 2
Levels Two
Gross Income 388800
County Weakley County TN
Net Operating Income 294996
Operating Expense 93804
New Construction N
Property Type Residential Income
Attached Garage N
Subdivision Name n/a
Garage Y/N N
Rent Includes Trash Collection
Status Active
Directions GPS Friendly
High School Westview High School
City Martin
Senior Community Y/N N
Number Of Units Total 36
Lot Size Units Acres
Elementary School Martin Elementary
Property Attached Y/N Y
Year Built Details Existing
Tax Annual Amount 20517
Middle/Junior High School Martin Middle School
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Total Actual Rent 3600
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Interior
Flooring Carpet Laminate
Air Conditioning Y/N Y
Heating Y/N Y
Above Grade Finished Area 870
Laundry Features Individual Electric Dryer Hookup Washer Hookup
Below Grade Finished Area Unit Type Square Feet
Below Grade Finished Area Source Owner
Above Grade Finished Area Source Owner
Above Grade Finished Area Unit Type Square Feet
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Exterior
Water Source Public
Total Parking 0
Inclusions Negotiable
Building Area Total 870
Waterfront Y/N N
Covered Spaces 0
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Internal Only
Street Number 1 587
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* Excluded Features
List By
Tennessee Property Group

Broker

jstanfield@realtracs.com

Email

Affordability Calculator

$26,332
Per Month
94%
6%
0%
Monthly Principal & Interest
$24,622
Monthly Property Taxes
$1,710
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
3568774 Elementary School
3568773 Middle School
Westview High School High School
Pricing History
DatePricePrice ChangeDescription
7/13/2026$3,899,500 Listed Price

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587 Baker Rd, Martin, TN, 38237 is a Multi-Family Home for sale at $3,899,500 with 870 sqft. 587 Baker Rd has 8 bedrooms, 4.0 baths, and was built in 1995. The property's zip code is 38237 which is in Martin, TN