Under contract

736 RICHMOND Ave, Memphis, TN 38106

Beds
12
Sqft
3,888

View property features, location on map, relevant school information and overview from seller's agent.

Listed byFast Track Realty, LLC
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Overview

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

Full feature list

Basic info

Property type
Multi-family
Number of bedrooms
12
Square feet
3,888
Year built
1965

Interior features

Laundry
None

Utilities

Heating
Natural Gas, Electric

Estimated monthly costs

Insurance
$342

Taxes

Tax Annual Amount
$1,311

Public schools

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Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.

Sourced from: Memphis Area Association of Realtors MLS®#: 10217072 Last checked:

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