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.
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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
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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