$500,000
SOLD APR 16, 2019
22 Beds
-- Bath
20,000 Sq Ft
0.81 Acres

Recently Sold

$25 Per Sq Ft

17% Below List Price

203 Days on Market

Highlights

  • 0.81 Acre Lot
  • Storm Windows
  • Landscaped
  • Wood Flooring
  • Window Unit Cooling System
  • Special Energy Features

About This Home

As of June 2025

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

Last Agent to Sell the Property

Brian Estes

Apex Advisory Group, LLC License #326532 Listed on: 09/10/2018

Apex Advisory Group, LLC

Co-Listed By

Pablo Pereyra

OCG Properties, LLC License #285174

Last Buyer's Agent

Thomas Blanche

Northpoint Asset Management, L License #330484

Home Details

Home Type

  • Single Family

Year Built

  • Built in 1954

Lot Details

  • 0.81 Acre Lot
  • Lot Dimensions are 72.38 x 243.7
  • Wood Fence
  • Brick Fence
  • Landscaped

Parking

  • Paved Parking

Home Design

  • Brick Exterior Construction
  • Pitched Roof
  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 20,000 Sq Ft Home
  • 1-Story Property
  • Sheet Rock Walls or Ceilings
  • Ceiling height between 8 to 10 feet
  • Crawl Space
  • Storm Windows
  • Free-Standing Range

Flooring

  • Wood
  • Tile
  • Vinyl

Eco-Friendly Details

  • Special Energy Features

Utilities

  • Window Unit Cooling System
  • Mini Split Heat Pump
  • Heating System Mounted To A Wall or Window
  • Electric Water Heater

Listing and Financial Details

  • Tenant pays for electric, cable TV
  • Assessor Parcel Number 050051 00001

Community Details

Overview

  • 22 Units
  • South Memphis Land Co Subdivision

Building Details

Security

  • Security Lighting

Home Details

Home Type

Single Family

Year Built

Built in 1954

Lot Details

0

Listing Details

  • Class: Multi-Family
  • Type: Apartment Complex
  • MLS Map #: 747A
  • MAAR Subdivision Name: SOUTH MEMPHIS LAND CO
  • Freestanding: Yes
  • List Price Per Sq Ft: 28
  • Number Of Stories: 1
  • Price Per Sq Ft: 617283.95
  • Estimated Sq Ft: 20000
  • Year Built: 1954
  • Construction: Brick/Veneer, Vinyl Siding, Storm Window(s), Energy Features
  • List Price Per Unit: 25000
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 1

Interior Features

  • Floors/Ceilings: Hardwood Throughout, Tile, Vinyl Floor, Dry Wall, 8 Feet
  • Appliances Equipment: Refrigerator, Range/Oven (Freestanding)

Exterior Features

  • Foundation: Conventional/Crawl Space
  • Roof: Shingle/Shake, Pitched
  • Miscellaneous Exterior: Security Lighting, Some Landscaping, Brick/Stone Fence, Wood Fence

Garage/Parking

  • Parking Facility: Asphalt/Blacktop, Less Than 1 Per Unit

Utilities

  • Hot Water: Electrical, Public Water, Public Sewer
  • Cooling Systems: Electrial, 1 Window Unit per Unit
  • Heating Systems: Electrical, Wall Heat, Individual Systems

Association/Amenities

  • Amenities: Dumpster

Lot Info

  • Acreage: 0.81
  • Lot Size: 72.38 X 243.7
  • Price Per Acre: 679012
  • Land Sq Ft: 35301

Rental Info

  • Tenant Pays: Electric, Cable TV
  • Type Of Leases: Year

Tax Info

  • Assessor Parcel Number: 050051 00001

Multi Family

  • Perc Occ: 92
  • Total Number Of Units: 22
  • Number1 Bedroom Units: 22
  • Type of Unit: 1 BR - 1 Bath

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Range of Values:

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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 Change Sq Ft Price
06/26/2025 06/26/25 Sold $1,222,000 -5.3% $212 / Sq Ft
05/01/2025 05/01/25 Pending -- -- --
04/11/2025 04/11/25 Price Changed $1,290,000 -4.4% $224 / Sq Ft
04/01/2025 04/01/25 For Sale $1,350,000 0.0% $234 / Sq Ft
03/23/2025 03/23/25 Pending -- -- --
03/14/2025 03/14/25 For Sale $1,350,000 -6.9% $234 / Sq Ft
06/01/2022 06/01/22 Pending -- -- --
05/26/2022 05/26/22 Price Changed $1,450,000 -9.4% --
05/08/2022 05/08/22 For Sale $1,600,000 +213.7% --
10/29/2021 10/29/21 Sold $510,000 -10.4% $89 / Sq Ft
10/14/2021 10/14/21 Pending -- -- --
10/08/2021 10/08/21 Price Changed $569,000 -36.4% $99 / Sq Ft
09/18/2021 09/18/21 For Sale $895,000 +155.7% $155 / Sq Ft
12/01/2020 12/01/20 Sold $350,000 -12.3% $27 / Sq Ft
08/21/2020 08/21/20 Pending -- -- --
07/30/2020 07/30/20 Price Changed $399,000 -10.3% $31 / Sq Ft
06/26/2020 06/26/20 Price Changed $445,000 -1.1% $34 / Sq Ft
05/30/2020 05/30/20 For Sale $450,000 -10.0% $35 / Sq Ft
04/16/2019 04/16/19 Sold $500,000 -9.1% $25 / Sq Ft
02/13/2019 02/13/19 Price Changed $550,000 -7.5% $28 / Sq Ft
12/14/2018 12/14/18 Price Changed $594,900 -0.9% $30 / Sq Ft
09/10/2018 09/10/18 For Sale $600,000 -- $30 / Sq Ft
Source: Memphis Area Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Memphis Area Association of REALTORS®

MLS Number: 10036247

Memphis Area Association of REALTORS®