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.
- Swimming Pool:
- No
- Heating System:
- Wall Heat
- Cooling System:
- No
- Fireplaces:
- 0
- Roof Deck:
- Composition Shingles
- Covered Parking Spaces
- FOUNDATION:
- Conventional
- Parking Feature:
- Street Parking Only
- Country:
- US
- State:
- TN
- County:
- Shelby
- City:
- Memphis
- Subdivision:
- S C LAW
- Zipcode:
- 38106
- Street:
- RICHMOND
- Street Number:
- 244
- Street Suffix:
- AVE
- Floor Number:
- 0
- Longitude:
- W91° 56' 47.2''
- Latitude:
- N35° 6' 42.8''
- Directions:
- Latham St to E Trigg Ave West. Trigg to left on Rayburn St. Rayburn St. to left on Richmond Ave. Properties on the left.
- Agent ID:
- 16975
- Status:
- Active
- Type:
- Built As Duplex
- # of Stories:
- 1
- Lot Size:
- 309X99
Duplexes For Sale
244 RICHMOND AVE, Memphis, Tennessee 38106
- Property Type :
- Duplexes
- Listing Type :
- For Sale
- Listing ID :
- 10227066
- Price :
- $325,000
- Bedrooms :
- 1
- Bathrooms :
- 1
- Full Bathrooms :
- 1
- Half Bathrooms :
- 0
- Square Footage :
- 0 Sqft
- Year Built :
- 1940
- Lot Area :
- 0 Sqft
- Status :
- Active
- Days On Market :
- 1

