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Key Details
Sold Price $500,000
Property Type Multi-Family
Sub Type Apartment Complex
Listing Status Sold
Purchase Type For Sale
Subdivision South Memphis Land Co
MLS Listing ID 10036247
Sold Date 04/16/19
Year Built 1954
Annual Tax Amount $466
Property Description
REDUCED $100k from Original $650k Asking Price!! MOTIVATED OUT OF TOWN SELLER 1680/1686 Kansas St - 2 Building - 1 Story - Completely Rehabbed including Water and Sewer Lines! 22 Units -All 1 bedroom/1 Bath units. Gross Potential Income - $118,800 Units rent for $400-$450/month. Average Occupancy is 92% for past year. 12.4 Cap Rate at $600,000 asking price Please call Listing Agent for more information and a tour of the complex
Location
State TN
County Shelby
Area South Memphis/61 Hwy
Interior
Heating Electrical, Wall Heat, Individual Systems
Cooling Electrial, 1 Window Unit per Unit
Flooring Hardwood Throughout, Tile, Vinyl Floor, Dry Wall, 8 Feet
Equipment Refrigerator, Range/Oven (Freestanding)
Laundry None
Exterior
Garage Asphalt/Blacktop, Less Than 1 Per Unit
Roof Type Shingle/Shake,Pitched
Building
Story 1
Foundation Conventional/Crawl Space
Water Electrical, Public Water, Public Sewer
Others
Acceptable Financing Conventional
Listing Terms Conventional
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Bought with Thomas M Blanche • Property Management PMI
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