736 Richmond Ave, Memphis, TN 38106
- $299,900
- List Price
- $299,900
- Price Change
- ▼ $20,100 1775691187
- MLS#
- 10217072
- Property Type
- Multifamily
- Lot Size
- 60 X 166-2/3
- Status
- PENDING
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.
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Additional Information
- Actual Annual Rent
- 2767
- Annual City Tax
- 642
- Annual County Tax
- 669
- Annual Insurance Expense
- 4107
- Construction
- Brick
- Foundation
- Other (See Remarks)
- Hot Water
- Other (See REMARKS)
- Legal Subdivision
- Gaither
- Lot
- 2
- Lot Size
- 60 X 166-2/3
- New Financing
- Other (Call LA)
- Occupancy
- 66
- Parking Facility
- Concrete
- Roof
- Other (See REMARKS)
- Subdivision
- GAITHER
- Subtype
- Apartment Complex
- Tenant Pays
- Other (Call LA)
- Year Built
- 1965
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Listing courtesy of Fast Track Realty, LLC.
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