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4 Beds
66 Baths
6,552 sqft

$325,000

244 RICHMOND AVE Unit: 1-6, Memphis TN, 38106

Price per sqft$49.60
Built in1940
Property size6,552 sqft
Property typeMulti-family

Overview

Active

Listed Jul 27, 2026

Updated 10 days ago

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.

$2,162/mo

Est. mortgage payment based on a $325,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
10227066

Interior Features

Bedrooms
4
Bathrooms
66
Heating
Yes
Basement
No
MLS provider logo

Listed by Michael Valenza with eXp Realty, LLC
Listing Contact: 901-335-7878 

The IDX display contains information sourced from the Memphis Area Association of REALTORS® as of 9/29/2026. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered. Some or all of the listings displayed may not belong to the firm whose website is being visited. Listing content and images Copyright 2026 Memphis Area Association of REALTORS®. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Do not rely upon listing data without independently verifying it.

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Data last updated on 9/29/2026 at 8:49 PM UTC

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