About This Home
This 2-bedroom, 2-bathroom multi-family at 244 RICHMOND Ave in Memphis, TN is listed for $325,000 ($50 per sqft). Built in 1940, the home offers 6,552 sqft of living space on a N/A lot.
Key Features
- Built in 1940
Property Details
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.
Monthly Cost Estimate
$1,738/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
244 RICHMOND Ave
Memphis, TN 38106
S C LAW
Questions & Answers
This 2-bedroom, 2-bathroom multi-family at 244 RICHMOND Ave is listed at $325,000 ($50/sqft). The estimated monthly payment is $1,738 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1940.
This property is listed by Michael Valenza and can be reached at 9013357878.