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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.

Features
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
Address Map
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.
MLS Addon
Agent ID:
16975
Status:
Active
Type:
Built As Duplex
# of Stories:
1
Lot Size:
309X99

Duplexes For Sale

244 RICHMOND AVE, Memphis, Tennessee 38106

1 Bedrooms
1 Bathrooms
0 Sqft
$325,000
Listing ID #10227066
Basic Details
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
Contact Agent