Garden-Style Multifamily with Two
1686 Kansas St Memphis, TN 38109
1686 Kansas St, Memphis, TN, 38109
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For Sale
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Pending
Fully renovated 22-unit garden-style community with 1 bed/1 bath units, on-site laundry, and parking.
Days on Market102
Property Features for 1686 Kansas St
General Information
- Standard status
- Pending
- Property subtype
- Multifamily
Listing agency
KW Commercial Memphis
(901) 255-2745
Listed by
Jacob Laurence · License #TN 339121
Source
Crexi
Added: Apr 11 Updated: Jul 21 at 1:07AM Checked: Jul 21 at 6:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial Memphis
Investment Insights
Based on property information with market context.
Sunny Grove Apartments is a 22-unit, garden-style apartment community comprised of two buildings and a graveled parking lot. The buildings are located at 1680 Kansas St (12 units) and 1686 Kansas St (10 units), with the parking lot at 1683 Kansas St. Each unit is a 1-bedroom, 1-bath layout. The property is described as fully renovated and stabilized, with interior renovation completed in 21 of 22 units, along with capital improvements including sewer and water line replacements, new HVAC systems, a new roof, new windows, and new electrical service to each unit.
The community includes parking, on-site laundry, a security system and gate, a privacy fence, a storage container, and a freshly paved road. Brothers Grocery is immediately next door. Current monthly gross rent is $13,305, with 5 units scheduled to be raised this year; the expected monthly gross rent in September is $13,845, based on the attached rent rolls.
A seller income guarantee is included if the buyer retains the current property manager: the seller will reimburse any income loss in the first year due to vacancy or tenant non-payment. An affidavit to that effect is planned to be signed prior to closing.
The community includes parking, on-site laundry, a security system and gate, a privacy fence, a storage container, and a freshly paved road. Brothers Grocery is immediately next door. Current monthly gross rent is $13,305, with 5 units scheduled to be raised this year; the expected monthly gross rent in September is $13,845, based on the attached rent rolls.
A seller income guarantee is included if the buyer retains the current property manager: the seller will reimburse any income loss in the first year due to vacancy or tenant non-payment. An affidavit to that effect is planned to be signed prior to closing.
Key Highlights
- 22‑unit garden‑style apartment community with 1 bed/1 bath units at 1680 Kansas St (12 units) and 1686 Kansas St (10 units)
- Fully renovated and stabilized, with full interior renovation of 21 of the 22 units plus new windows and new roof
- Significant capital projects completed: sewer and water line replacements, new HVAC systems, and new electrical service to each unit
Property Analytics
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Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully renovated 22-unit garden-style community with 1 bed/1 bath units, on-site laundry, and parking.
Where is this apartment building located?
The property is located at 1686 Kansas St Memphis, TN.
What are key features of this property?
This property features: 22‑unit garden‑style apartment community with 1 bed/1 bath units at 1680 Kansas St (12 units) and 1686 Kansas St (10 units); Fully renovated and stabilized, with full interior renovation of 21 of the 22 units plus new windows and new roof; Significant capital projects completed: sewer and water line replacements, new HVAC systems, and new electrical service to each unit
