$4,250,000

587 Baker Rd Martin, TN 38237

Estimated payment $23,769/month

Total Views 2,608
4 Beds
-- Bath
870 Sq Ft
$4,885 Price per Sq Ft

Highlights

  • No HOA
  • Central Heating and Cooling System
  • Carpet

About This Home

**Income-Producing Property:** This 36-unit apartment complex is situated in the heart of Martin, TN, just 1.2 miles from the University of Tennessee at Martin. This property presents an excellent opportunity to enhance your rental portfolio. Martin is a vibrant university town with various amenities that attract residents to the area. All units are 2-bedroom, 1-bathroom units that feature washer and dryer hookups. Some of the improvements made over the last 12 months include a new roof on buildings A, D, E, H, and J, as well as renovations to 16 units. Additionally, the back deck has been replaced for all 36 units. The current property manager is local and is willing to continue managing the property, facilitating a smooth transition for the new owner.

Listing Agent

Jessica Stanfield

Tennessee Property Group Brokerage Phone: 9312092819 License #315800 Listed on: 12/06/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $18,803

Year Built

  • Built in 1995

Home Design

  • Brick Exterior Construction
  • Aluminum Siding

Interior Spaces

  • 4 Bedrooms
  • 870 Sq Ft Home
  • Property has 1 Level
  • Washer and Electric Dryer Hookup

Flooring

  • Carpet
  • Laminate
  • Vinyl

Schools

  • Martin Elementary School
  • Martin Middle School
  • Westview High School

Utilities

  • Central Heating and Cooling System

Listing and Financial Details

  • The owner pays for trash collection
  • Rent includes trash collection
  • Assessor Parcel Number 078 03910 000

Community Details

Overview

  • No Home Owners Association
  • 36 Units

Building Details

  • Operating Expense $84,500
  • Gross Income $388,800
  • Net Operating Income $304,300

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$18,803

Year Built

Built in 1995

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Year Built: 1995
  • Inclusions: Appliances
  • Unit Levels: One
  • Building Stories: 2
  • Structure Type: Multi Family
  • Year Built Details: Existing
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Flooring: Carpet, Laminate, Vinyl
  • Total Bedrooms: 4
  • Above Grade Finished Sq Ft: 870
  • Building Area Units: Square Feet
  • Living Area: 870
  • Living Area Units: Square Feet

Exterior Features

  • Construction Type: Aluminum Siding, Brick
  • Pool Private: No
  • View: No
  • Waterfront: No

Garage/Parking

  • Attached Garage: No
  • Garage Yn: No

Utilities

  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Central
  • Heating Yn: Yes
  • Laundry Features: Individual, Electric Dryer Hookup, Washer Hookup
  • Utilities: Water Available

Condo/Co-op/Association

  • Association: No
  • Senior Community: No

Lot Info

  • Zoning: Commercial
  • Lot Size Units: Acres
  • Parcel #: 078 03910 000
  • Property Attached Yn: Yes

Rental Info

  • Owner Pays: Trash Collection
  • HOA Rent Includes: Trash Collection
  • Tenant Pays: Cable TV, Electricity, Water

Multi Family

  • Gross Income: 388800
  • Above Grade Finished Area Units: Square Feet
  • Property Net Operating Income: 304300
  • Number Of Units Total: 36
  • Annual Operating Expense: 84500
  • Total Actual Rent: 1800

Tax Info

  • Tax Annual Amount: 18803

MLS Schools

  • Elementary School: Martin Elementary
  • High School: Westview High School
  • Middle Or Junior School: Martin Middle School

Map

Range of Values:

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Value Increase
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Percent Increase
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/06/2025 12/06/25 For Sale $4,250,000 +78.9% $4,885 / Sq Ft
11/30/2022 11/30/22 Sold $2,375,000 0.0% $79 / Sq Ft View Prior Sale
11/30/2022 11/30/22 For Sale $2,375,000 -- $79 / Sq Ft
09/15/2022 09/15/22 Pending -- -- --
Source: Realtracs

Source: Realtracs

MLS Number: 3059099

Realtracs

APN: 092078 03910