244 RICHMOND AVE Memphis, TN $ 325,000
244 RICHMOND AVE
$ 325,000
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244 RICHMOND AVE

Memphis, TN, 38106
$ 325,000
Bedrooms2 Baths2.0 Sq 6,552

Monthly Estimate*

$ 2,052

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Multi-Family Home for sale in Memphis, TN

for $325,000 with 2 bedrooms and 2 full baths. This 6,552 square foot home was built in 1940.

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.

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Multi-Family Active

Price

$ 325,000

Bedrooms

2

Full Bath

2

Property Type

Multi-Family

Taxes

$ 3,365

Style

Year Built

1940

Town/City

Memphis

County/Region

Shelby

MLS | Web ID

10227066

Features
General
Heating Wall Heat
Cooling None
Roof Composition Shingles
Status Active Active
Parking Street Parking Only
Legal Subdivision Name S C LAW
Style Other (See REMARKS)
Stories Count 1
County Shelby
Class Duplexes
Type Built as Duplex
Area 747B South Memphis/61 Hwy
Unit Number 1-6
Parcel Number 013021 00006
Sale/Rent For Sale
Status Detail 0
Year Built 1940
Directions Latham St to E Trigg Ave West. Trigg to left on Rayburn St. Rayburn St. to left on Richmond Ave. Properties on the left.
City Memphis
DOM 2
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Exterior
Foundation Conventional
Pool None
Lot 13
Lot Size 309X99
Lot Description Level
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Interior
Hot Water Electric
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* Excluded Features
List By
Exp Realty, Llc

Broker

Affordability Calculator

$2,333
Per Month
88%
12%
0%
Monthly Principal & Interest
$2,052
Monthly Property Taxes
$280
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
460623 Elementary School
460624 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
7/27/2026$325,000 Listed Price

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244 RICHMOND AVE, Memphis, TN, 38106 is a Multi-Family Home for sale at $325,000 with 6,552 sqft. 244 RICHMOND AVE has 2 bedrooms, 2.0 baths, and was built in 1940. The property's zip code is 38106 which is in Memphis, TN