Memphis TN Multi Family for Sale
$539,901
512 MCELROY Rd Memphis, TN 38120
- Type:
- Other
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Year built:
- 1985
- Baths:
- MLS#:
- 10184658
- Subdivision:
- BRUCE ELLINGTON RESUB LOTS 2&3
View additional info
Courtesy: 901, REALTORS
Dylan Johnson
ADDITIONAL INFORMATION
"RARE FIND! Appraisal in hand for $565,000 from 2023. Instant Equity. UNBELIEVABLE OPPORTUNITY to purchase a home divided into TWO units. Both sides are 3 bedrooms with 2 baths with almost 2k feet of living space! HUGE income potential. Live in one and rent the other. Rent them both or have multiple families living together... endless possibilities in this highly desirable neighborhoods with easy access to local parks, shopping, and dining. You will not find another opportunity like this in the neighborhood with gorgeous new buildings going up around it, this is gold mine. Both sides very nicely updated and clean. Featuring spacious living areas filled with natural light, a beautifully updated kitchen with stainless steel appliances This charming residence combines modern comforts with classic Southern charm."
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Memphis Real Estate
The median home value in Memphis, TN is $148,300. This is lower than the county median home value of $206,500. The national median home value is $338,100. The average price of homes sold in Memphis, TN is $148,300. Approximately 40.23% of Memphis homes are owned, compared to 45.77% rented, while 14% are vacant. Memphis real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Memphis real estate agent to arrange a tour today!
Memphis, Tennessee 38120 has a population of 634,139. Memphis 38120 is less family-centric than the surrounding county with 19.26% of the households containing married families with children. The county average for households married with children is 25.11%.
The median household income in Memphis, Tennessee 38120 is $43,981. The median household income for the surrounding county is $55,015 compared to the national median of $69,021. The median age of people living in Memphis 38120 is 34.2 years.
Memphis Weather
The average high temperature in July is 90.9 degrees, with an average low temperature in January of 30.3 degrees. The average rainfall is approximately 54.1 inches per year, with 3 inches of snow per year.