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$ 325,000
Est. payment /mo
New
244 RICHMOND AVE #1-6 Memphis, TN 38106
2 Beds
2 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Built as Duplex
Listing Status Active
Purchase Type For Sale
Subdivision S C Law
MLS Listing ID 10227066
Style Other (See REMARKS)
Bedrooms 2
Full Baths 2
Year Built 1940
Annual Tax Amount $3,365
Property Sub-Type Built as Duplex
Property Description
Own 11 rental units on a single parcel, consisting of five duplexes and one detached single family home. This unique investment offers immediate cash flow with exceptional value add potential. The property includes ten 1 bedroom, 1 bath units with separate living rooms, kitchens, and bedroom. The sixth building has been converted into a single family residence, providing added flexibility. With renovations, improved management, and lease up efforts, a savvy investor can increase occupancy, raise rents, boost net operating income, and significantly enhance the property's value. Whether you're looking to expand your portfolio or build long term wealth, this is a rare opportunity to unlock strong cash flow and appreciation through strategic improvements.
Location
State TN
County Shelby
Area South Memphis/61 Hwy
Rooms
Dining Room 0
Interior
Heating Wall Heat
Cooling None
Flooring Vinyl Floor
Exterior
Exterior Feature Wood/Composition
Parking Features Street Parking Only
Pool None
Roof Type Composition Shingles
Building
Lot Description Level
Story 1
Foundation Conventional
Water Electric
Listed by Michael T Valenza • eXp Realty, LLC