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761 Richmond Ave

Memphis, TN 38106
  • $250,000
  • STATUS: Active
  • ON SITE: 37 Days
  • MLS #: 10196578
UPDATED: 70 min ago
$250,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1969
County:

School Ratings & Info

Description

Investor special with upside potential! This 4-unit multifamily property in South Memphis is 100% occupied and generating approx. $22,800 in annual NOI. Renovated in 2016, offering updated systems and layout improvements. Great location minutes from Downtown, the STAX Museum, and major transit routes. One unit remains vacant, allowing for rental upside or light owner/occupant conversion. Class D property"sold as-is. Please do not disturb tenants. Showings available with accepted offer only.

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© 2025 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: 2025-06-20T21:04:21.4.
www.redsearealtyco.com/homes/163759677
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761 Richmond Ave Memphis, TN 38106

  • Price: $250,000
  • Status: Active
  • On Site: 37 Days
  • Updated: 70 min ago
  • MLS #: 10196578
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1969
Built
Neighborhood:
Mcnutt
County:
Shelby
Area:
South Memphis/61 Hwy
Property Description
Investor special with upside potential! This 4-unit multifamily property in South Memphis is 100% occupied and generating approx. $22,800 in annual NOI. Renovated in 2016, offering updated systems and layout improvements. Great location minutes from Downtown, the STAX Museum, and major transit routes. One unit remains vacant, allowing for rental upside or light owner/occupant conversion. Class D property"sold as-is. Please do not disturb tenants. Showings available with accepted offer only.
Exterior Features

Buildings 1 Construction Brick Foundation Slab Land Sq Ft 9600 Lot Size 48 X 200 Parking Facility More Than 1 Per Unit Roof Shingle/Shake

Interior Features

Cooling Systems 2+ Window Units per Unit Floors And Ceilings Dry WallTile Heating Systems Central Hot Water Gas Laundry Connections

Property Features

1 Bedroom Units 0 2 Bedroom Units 4 3 Bedroom Units 0 Actual Annual Rent 23100 Annual City Tax 518 Annual County Tax 549 Annual Insurance Expenses 1300 Annual Operating Expenses 3000 Assumption Must Qualify Efficiency Studio Units 0 Existing Financing Conventional FixedOther (See REMARKS) Gross Potential Annual Rent 23100 Legal Subdivision Name MC NUTT Lot Number 3 Multifamily Type Fourplex New Financing AssumptionCash OnlyConventionalOwner MortgagePrivate Operating Expenses ManagementRepairs/Maintenance Other Units 0 Percent Occupancy 100 Possession Tenants Rights Sale Includes All FurnishingsBuilding and LandOther (See REMARKS) Source Of Info OwnerRent Roll Tenant Pays All Utilities Type Of Leases Year Type Of Units 2 BR - 1 Bath Zoning R-6

Listing information © 2025 Memphis Area Association of REALTORS®.
Listing provided courtesy of Harris & Harris Realty Group,: 901-590-3077.



© 2025 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: 2025-06-20T21:04:21.4.
 
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6812 Crumpler Blvd, Suite 104
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