Sold

3520 FAXON Ave, Memphis, TN 38122

Beds
5
Sqft
2,832

View property features, location on map, relevant school information and overview from seller's agent.

Listed byCrye-Leike, Inc., REALTORS
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Overview

High-yield triplex on a rare ~½ acre lot on the West edge of Berclair with development potential! This income-producing property offers strong in-place cash flow with immediate upside. Current rents total $2,975/month with room to increase to $3,200+, & additional NOI available through utility billback. Flexible month-to-month leases allow for quick repositioning or owner occupant. 2BR/2BA down unit with central HVAC, 1BR/1BA up unit, & a renovated 2BR/1BA guest house,+ garage & storage. Main house could convert to single family. Recent improvements include exterior paint, double pain windows, roof on rear unit, & interior paint & updates. All units have their own laundry & all appliances are included. Zoned 3–4 family with lots of land to expand & park--rare opportunity for added value. Ideal for investors seeking solid returns today with clear path to ~11% cap. Sqft does not include guest house. Opportunities like this are getting harder to find! Do not disturb tenants. Owner agent.

Location

Full feature list

Basic info

Property type
Multi-family
Number of stories
2
Number of bedrooms
5
Square feet
2,832
Year built
1920

Interior features

Basement
Yes, Partially finished

Exterior features

Water view
Yes

Utilities

Heating
Central
Cooling
Central Air
Sewer
Public Sewer
Water
Public Water

Estimated monthly costs

Insurance
$207

Taxes

Tax Annual Amount
$4,091

Public schools

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Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.

Sourced from: Memphis Area Association of Realtors MLS®#: 10219499 Last checked:

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