Renovated
For Sale
$315,000
Pending
285 LUCY AVE, Memphis, TN 38106
Four-unit property with updated interiors, mini-split systems, and professional management in place.
Property SizeContact for details
Days on Market562
Property Features for 285 LUCY AVE
General Information
Standard status
Pending
Property subtype
Multi Family
Occupancy
50%
Units
Unit Mix
4 x 2bed/1bath
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$819
Building Details
Year Built
1960
Year Renovated
2023
Tenancy
Multi
Listing Agency:
Crye-Leike, Inc., REALTORS
(901) 833-5456
Listed By:
Monica N Bynum · License #343193
(901) 833-5456
Source:
Exitrealty
Added: Feb 17, 2025
Changed: Aug 30
Last Checked: Sep 1 at 3:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Crye-Leike, Inc., REALTORS
Investment Insights
Based on property information with market context.
This four-unit residential income property was renovated in 2023 with improvements spanning the roof, painted interior and exterior surfaces, laminate flooring, kitchens, bathrooms, and lighting. Each unit includes a mini-split system for heating and cooling. The property was built in 1960 and is professionally managed, with leases, ledgers, maintenance history, and property photographs available upon request.
Two units are occupied by Section 8 tenants, while the remaining two units are vacant. The occupied units are configured as two-bedroom, one-bath residences. The property is tenant occupied, and access should be coordinated without disturbing residents. Offers are contingent upon inspections.
Two units are occupied by Section 8 tenants, while the remaining two units are vacant. The occupied units are configured as two-bedroom, one-bath residences. The property is tenant occupied, and access should be coordinated without disturbing residents. Offers are contingent upon inspections.
Key Highlights
- Four‑unit property renovated in 2023
- Two‑bedroom, one‑bath unit configuration
- Two occupied Section 8 units and two vacant units
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Explore this area
Business Placement
Demographics for 38106, TN
22,394
Population
11,630
Households
1.9
Avg Household Size
41
Median Age
12%
College-Educated
83%
High-School Grad
10.4 sq mi
ZIP Area
2,153
Density / Sq Mi
$29,818
Median Household Income
$30,101
Median Earnings
$915
Median Rent
$66,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with updated interiors, mini-split systems, and professional management in place.
Where is this quadplex located?
The property is located at 285 LUCY AVE Memphis, TN.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Four‑unit property renovated in 2023; Two‑bedroom, one‑bath unit configuration; Two occupied Section 8 units and two vacant units
