736 Richmond Ave, Memphis, TN 38106

$320,000
  • 736 Richmond Ave, Memphis, TN 38106 Main Photo

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Active
BEDS12 BATHS MLS#10217072
STATUSActive PROPERTY TYPEMulti Unit - Multiple SUBDIVISIONGAITHER NEIGHBORHOODSouth Memphis-61 Hwy

Property Description

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.

736 Richmond Ave | MLS# 10217072

This multi-family property located at 736 Richmond Ave, Memphis, TN 38106 is currently listed for sale with an asking price of $320,000. Search South Memphis-61 Hwy real estate on www.kathryngarland.com today.

Property Features

Property Type: Multi Unit - Multiple
Heating: Gas, Electrical
Roof Type: Other (See REMARKS)
Year Built: 1965

Feature Descriptions

Units: 6

Listed By / Shown By

Listed By

Agency Name: Fast Track Realty, LLC

Shown By

Agent Name: Kathryn Garland
Agent Phone: (901) 644-8751
Agency Title: Crye-Leike Real Estate Services

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Source: MAAR MLS

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Estimated Payment

$ 805.51 per month $712.18 Principal & Interest $0.00 Property Tax (data not provided by mls) $93.33 Homeowner's Insurance

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