For sale

$325,000

244 Richmond Ave #1-6, Memphis, TN 38106

2beds

6,552sqft

$2,174/mo

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Duplex

Built in 1940

-- sqft lot

$-- Zestimate^®

$50/sqft

$-- HOA

What's special

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.

1 day

44

2

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 2
Bathrooms: 2
Full bathrooms: 2

Heating

Wall Furnace

Cooling

None

Appliances

Included: Electric Water Heater

Features

Separate Living Room, Square Feet Source:AutoFill (MAARdata) or Public Records (Cnty Assessor Site)
Flooring: Vinyl
Basement: Crawl Space

Interior area

Total interior livable area: 6,552 sqft

Property

Parking

Parking features: Street Parking Only
Has uncovered spaces: Yes

Features

Stories: 1
Pool features: None

Lot

Size: 0.7 Acres
Dimensions: 309 x 99
Features: Level

Details

Parcel number: 013021 00006

Construction

Type & style

Home type: MultiFamily
Architectural style: Other (See REMARKS)
Property subtype: Duplex

Materials

Wood/Composition
Roof: Composition Shingles

Condition

Year built: 1940

Community & HOA

Community

Subdivision: S C Law

Location

Region: Memphis

Financial & listing details

Price per square foot: $50/sqft
Annual tax amount: $3,365
Date on market: 7/27/2026
Listing terms: Conventional
Lease term: Month To Month

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
7/27/2026	Listed for sale	$325,000$50/sqft
Source: MAAR #10227066 Report a problem

Public tax history

Tax history is unavailable.

Monthly payment

Est. payment

Payment breakdown

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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included

All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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