About This Home
This 0-bedroom, 0-bathroom multi-family at 736 RICHMOND Ave in Memphis, TN is listed for $299,900 ($77 per sqft). Built in 1965, the home offers 3,888 sqft of living space on a N/A lot.
Key Features
- Built in 1965
Property Details
Investor opportunity! Six unit multifamily property consisting of 6 2bed/1bath units with approximately 3,888 total square feet. Each unit has individual utilities, helping reduce owner expenses. Six units offer upside: 4 are currently under rented & 2 are vacant.
There is immediate value add and potential to boost cash flow! Units #1, #3, and #5 have been renovated, adding to the property's appeal and rental potential. Unit #5 is rent ready, while Unit #2 was recently vacated and freshly painted. Unit #4 was renovated about two years ago and remains in good condition.
Unit #6 has a long term tenant. Four units are equipped with gas wall heaters and two units feature newer hardwired electric heaters. *Current rents: Unit 1: $650, Unit 2: Vacant, Unit 3: $992 (Section 8), Unit 4: $600, Unit 5: Rent Ready, Unit 6: $525. Strong investment opportunity with value add potential.
Monthly Cost Estimate
$1,604/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
736 RICHMOND Ave
Memphis, TN 38106
GAITHER
Questions & Answers
This 0-bedroom, 0-bathroom multi-family at 736 RICHMOND Ave is listed at $299,900 ($77/sqft). The estimated monthly payment is $1,603 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1965.
This property is listed by Jonathan Nunez and can be reached at 9014538455.