244 Richmond Ave Unit #1-6, Memphis, TN 38106
- $325,000
- 1
- BD
- 1
- BA
- List Price
- $325,000
- MLS#
- 10227066
- Property Type
- Multifamily
- Bedrooms
- 1
- Bathrooms
- 1
- Lot Size
- 309X99
- Status
- ACTIVE
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.
Additional Information
- Annual City Tax
- 1648
- Annual County Tax
- 1717
- Cooling
- None
- Foundation
- Conventional
- Heating
- Wall Heat
- Hot Water
- Electric
- Legal Subdivision
- S C Law
- Lot
- 13
- Lot Description
- Level
- Lot Size
- 309X99
- New Financing
- Conventional
- Occupancy
- 64
- Parking
- Street Parking Only
- Roof
- Composition Shingles
- Stories
- 1
- Style
- Other (See REMARKS)
- Subdivision
- S C LAW
- Subtype
- Built as Duplex
- Unit Number
- 1-6
- Year Built
- 1940
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Listing courtesy of eXp Realty, LLC.
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