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1861 Corning Ave

Memphis, TN 38127
  • $700,000
  • STATUS: Active
  • ON SITE: 4 Days
  • MLS #: 10222979
New On Site 4 Days Ago
UPDATED: 49 min ago
$700,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Ratings & Info

Description

Investment opportunity in North Memphis with immediate cash flow and value add potential. This property is currently stabilized and producing income, offering investors the opportunity to acquire an asset with upside through rent growth and continued management. Current rents are below market in several units, creating the potential to increase revenue over time while maintaining occupancy. Conveniently located near major employment corridors, retail amenities, and transportation routes. Ideal for investors seeking a cash flowing asset with the ability to improve returns through strategic rent adjustments and operational efficiencies. Financial information, rent roll, and additional property details available upon request.

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© 2026 Memphis Area Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Red Sea Realty Co LLC. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2026-06-07T19:03:11.83.
www.redsearealtyco.com/homes/177161498
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1861 Corning Ave Memphis, TN 38127

  • Price: $700,000
  • Status: Active
  • On Site: 4 Days
  • Updated: 49 min ago
  • MLS #: 10222979
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1964
Built
Neighborhood:
Kencor
County:
Shelby
Area:
Frayser - North
Property Description
Investment opportunity in North Memphis with immediate cash flow and value add potential. This property is currently stabilized and producing income, offering investors the opportunity to acquire an asset with upside through rent growth and continued management. Current rents are below market in several units, creating the potential to increase revenue over time while maintaining occupancy. Conveniently located near major employment corridors, retail amenities, and transportation routes. Ideal for investors seeking a cash flowing asset with the ability to improve returns through strategic rent adjustments and operational efficiencies. Financial information, rent roll, and additional property details available upon request.
Exterior Features

Buildings 1 Construction Brick Foundation Slab Lot Size 0.85 Parking Facility Asphalt/Blacktop Roof Shingle/Shake

Interior Features

Cooling Systems 1 Window Unit per Unit Floors And Ceilings Vinyl Floor Heating Systems Gas Hot Water Other (See REMARKS) Laundry None

Property Features

1 Bedroom Units 0 2 Bedroom Units 14 3 Bedroom Units 0 Actual Annual Rent 8315 Annual City Tax 6516 Annual County Tax 6792 Assumption Other (Call LA) Efficiency Studio Units 0 Existing Financing Conventional Fixed Gross Potential Annual Rent 8965 Legal Subdivision Name Kencor Multifamily Type Apartment Building New Financing Conventional Operating Expenses Other (Call LA) Other Units 0 Percent Occupancy 93 Possession Other (Call LA) Sale Includes All AppliancesAll EquipmentAll FurnishingsBuilding and Land Source Of Info Rent Roll Tenant Pays Some Utilities Type Of Leases Year Type Of Units 2 BR - 1+ Baths

Listing information © 2026 Memphis Area Association of REALTORS®.
Listing provided courtesy of Grand Point Realty, LLC: 901-878-5255.



© 2026 Memphis Area Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Red Sea Realty Co LLC. Some or all of the listings displayed may not belong to the firm whose website is being visited. Data last updated: 2026-06-07T19:03:11.83.
 
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