Development sources tell GlobeSt.com the property has multifamily conversion potential if it isn't sold as a single-family residence. The home took a year to build and would cost an estimated $1 million in today's dollars, construction industry estimators tell GlobeSt. com.
The asset has a full bath in each of the six bedrooms; two garages large enough to house three cars; a swimming pool shaped like a blue guitar; a whirlpool that looks like tuning keys; and two acres of a wooded backyard.
The two-story property is off Hiawassee Road in the Hyland Oaks neighborhood of Pine Hills. Presley died at his Memphis mansion Aug. 16, 1977.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
