2771 Sonora Dr Unit 1 Memphis, TN 38115
Fox Meadows NeighborhoodEstimated payment $426/month
About This Home
Incredible opportunity to acquire a 20-door rental portfolio in Memphis generating $19,780 in monthly gross income. Nineteen of the twenty units are currently occupied, with the majority of tenants on Section 8, providing consistent and reliable cash flow. All properties have been renovated within the past 1–4 years and are being sold as turnkey investments. Strong rental history across the portfolio with room to increase rents, offering additional upside for investors. Ideal for those seeking stable, income-producing assets in a growing market.
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $346
Year Built
- Built in 1973
Home Design
- Traditional Architecture
Interior Spaces
- 800-999 Sq Ft Home
- 958 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 2 Main Level Bedrooms
- 2 Full Bathrooms
Utilities
- Central Heating and Cooling System
Community Details
- Property has a Home Owners Association
- $240 Maintenance Fee
- The Hamlets Subdivision
Listing and Financial Details
- Assessor Parcel Number 074090 A00249
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $346 | $14,840 | $1,520 | $13,320 |
| 2024 | $346 | $10,200 | $1,520 | $8,680 |
| 2023 | $621 | $10,200 | $1,520 | $8,680 |
| 2022 | $621 | $10,200 | $1,520 | $8,680 |
| 2021 | $738 | $10,200 | $1,520 | $8,680 |
| 2020 | $551 | $7,600 | $1,520 | $6,080 |
| 2019 | $243 | $7,600 | $1,520 | $6,080 |
| 2018 | $152 | $4,750 | $950 | $3,800 |
| 2017 | $155 | $4,750 | $950 | $3,800 |
| 2016 | $353 | $8,075 | $0 | $0 |
| 2014 | $353 | $8,075 | $0 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/24/2025 06/24/25 | For Sale | $75,000 | -- | $94 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $320,000 | Quality Title Group Llc |
Source: Memphis Area Association of REALTORS®
MLS Number: 10199803
APN: 07-4090-A0-0249
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