1680 Kansas St - Apartments FOR SALE


Memphis, TN 38109- South Memphis
$1,290,000 USD
901-431-6876
1680 Kansas St, Memphis, TN for Sale
$1,290,000 USD
Apartments - FOR SALE
1/35
null | 10.87% Cap Rate

1680 Kansas St
Memphis, TN 38109
South Memphis


HIGHLIGHTS

  • Fully Occupied by Veteran Non Profit Placement
  • Secure Complex
  • On Site Management provided by Non Profit Tenants

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,290,000 USD

PRICE/SF

$122 USD /SF

# OF UNITS

22

PRICE/UNIT

$58,636

CAP RATE

10.87%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1954

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.94 AC

LAND SF

40,946 SF

ZONING

R-D

APN/PARCEL ID

05-0051-0-0001

ASK ABOUT THIS PROPERTY

Zach ThomasMytown Properties MemphisMore Info
901-431-6876

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Zach ThomasMytown Properties MemphisMore Info
901-431-6876

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.