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.
Listed By
Agency Name: eXp Realty, LLC
Agency Phone: 888-519-5113
Shown By
Agency Title: Crye-Leike Real Estate Services
Agency Phone: 866-253-4666
Estimated Payment
$ 818.10 per month $723.31 Principal & Interest $0.00 Property Tax (data not provided by mls) $94.79 Homeowner's InsuranceCrye-Leike is a full-service real estate company founded in Memphis in 1977. Today it is ranked #4 in the nation and the largest real estate company serving markets in Tennessee, Arkansas, Georgia, Mississippi. Crye-Leike has a network of more than 2,800+ licensed sales associates, 600+ staff members and over 130+ branch and franchise offices located throughout a seven state region of Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, and Tennessee. Crye-Leike also has a franchise location in Puerto Rico.
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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.clhomes.com today.