$1,222,000
$1,290,000
5.3%For more information regarding the value of a property, please contact us for a free consultation.
1680 KANSAS ST Memphis, TN 38109
Key Details
Sold Price $1,222,000
Property Type Multi-Family
Sub Type Apartment Building
Listing Status Sold
Purchase Type For Sale
Subdivision South Memphis Land Co
MLS Listing ID 10191974
Sold Date 06/26/25
Year Built 1954
Annual Tax Amount $4,713
Property Sub-Type Apartment Building
Property Description
Welcome to Sunny Grove! This is a 22-unit fully occupied property with two buildings and one graveled parking lot. Spanning 3 addresses (1680 Kansas St, 1686 Kansas St and 1683 Kansas), it is a turnkey, renovated, cash-flowing property to a VA-Funded Nonprofit for veterans in need. 3-year lease is in place! $13k/mo in rental income, utilities reimbursed, maintenance reimbursed, no Capex needed! What an opportunity! Oh and the non profit provides onsite management, handles tenant turnover, and maintenance requests. All units have been updated to meet VA requirements and both buildings have newer roofs. Laundry onsite. This property is already delivering a fantastic ROI and long term cash flow. It's now your time to reap the benefits! Rent rolls, financials, and records available upon request. Inspections with due diligence. Text or Call agent for additional information and questions.
Location
State TN
County Shelby
Area South Memphis/61 Hwy
Interior
Heating Electrical, Individual Systems
Cooling Electrial, Individual Cooling
Flooring Vinyl Floor
Laundry Common Laundry
Exterior
Parking Features 1 Per Unit, Concrete, Gravel
Roof Type Composition
Building
Foundation Laundry Facility, Slab
Water Electrical, Public Sewer, Public Water
Others
Acceptable Financing Conventional
Listing Terms Conventional
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