17
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$299,900
Est. payment /mo
Active
736 RICHMOND AVE Memphis, TN 38106
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Key Details
Property Type Multi-Family, Condo
Sub Type Apartment Complex
Listing Status Active
Purchase Type For Sale
Subdivision Gaither
MLS Listing ID 10217072
Year Built 1965
Annual Tax Amount $1,311
Property Sub-Type Apartment Complex
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.
Location
State TN
County Shelby
Area South Memphis/61 Hwy
Interior
Heating Electrical, Gas
Cooling Other (See Remarks)
Flooring Other (See Remarks)
Laundry None
Exterior
Parking Features Concrete
Roof Type Other (See REMARKS)
Building
Foundation Other (See Remarks)
Water Other (See REMARKS)
Listed by Jonathan Nunez • Fast Track Realty, LLC
NEARBY SCHOOL & BUSINESS
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