Uri Geller buys Elvis' first Memphis home

MEMPHIS, May 16 (UPI) -- British psychic Uri Geller and two partners have bought the Memphis house that once belonged to a young Elvis Presley.

The four-bedroom, two-bathroom ranch house owned by Michael and Cindy Hazen was appraised at $261,700 and sold on eBay Monday for $905,100, the Memphis Business Journal reported Tuesday.

Geller and his partners -- New York attorney Pete Gleason and Swedish jewelry designer Lisbeth Silvandersson -- say they will restore the house Presley bought with his profits from "Heartbreak Hotel."

One of the ideas being discussed is to make the house available to foreign families in Memphis for medical treatment, the Business Journal said.

Presley moved to Graceland 13 months after buying his first house and both are listed in the National Register of Homes.

Geller, who met Presley in Las Vegas, is a collector of Elvis memorabilia.