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244 Richmond Ave, Unit 1-6, Memphis, TN 38106

$325,000
  • 244 Richmond Ave, Unit 1-6, Memphis, TN 38106 Main Photo

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New to the Market Active
BEDS2 BATHS2 MLS#10227066
STATUSActive PROPERTY TYPEMulti Unit - Multiple SUBDIVISIONS C LAW NEIGHBORHOODSouth Memphis-61 Hwy

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.

244 Richmond Ave, Unit 1-6 | MLS# 10227066

This multi-family property located at 244 Richmond Ave, Unit 1-6, Memphis, TN 38106 is currently listed for sale with an asking price of $325,000. Search South Memphis-61 Hwy real estate on www.garygarland.com today.

Property Features

Property Type: Multi Unit - Multiple
Cooling: None
Heating: Wall Heat
Roof Type: Composition Shingles
Stories: 1.0
Year Built: 1940

Feature Descriptions

Exterior/ Windows: Wood/Composition
Floors/ Ceilings: Vinyl Floor
Lot: Level
Parking: Street Parking Only

Listed By / Shown By

Listed By

Agency Name: eXp Realty, LLC

Shown By

Agent Name: Gary Garland
Agent Phone: Cell: (901) 335-4842
Agency Title: Crye-Leike Real Estate Services

IDX logo

Source: MAAR MLS

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Estimated Payment

$ 818.10 per month $723.31 Principal & Interest $0.00 Property Tax (data not provided by mls) $94.79 Homeowner's Insurance

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