BEDS5
BATHS
MLS#10219499
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONHIGHLAND HEIGHTS BLK 19
Property Description
High-yield triplex on a rare ~1/2 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 $2,950/month with room to increase to ~$3,200+ and additional NOI available through utility billback. Flexible month-to-month leases allow for quick repositioning or owner occupant. Property includes a 2BR/2BA main unit with central HVAC, 1BR/1BA upstairs unit, and a renovated 2BR/1BA guest house, plus garage with storage. Recent improvements include exterior paint, newer double pain windows, roof on rear unit, and many interior 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. Opportunities like this are getting harder to find! Do not disturb tenants. Owner agent.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central,2+ Window Units per Unit
Heating: Central, Wall Heat, Other (See Remarks)
Roof Type: Shingle/Shake
Stories: 2.0
Year Built: 1920
Feature Descriptions
Days on Site: 1
Floors/ Ceilings: Hardwood Throughout, Tile, Wood Laminate Floors,9 Ft or More
Units: 3
Listed By / Shown By
Listed By
Agency Name: Crye-Leike, Inc., REALTORS
Shown By
Agency Title: CRYE-LEIKE Executive Realty
Agency Phone: 270-781-3377
Estimate Your Payment
Estimated Payment
$ 1,576.77 per month $1,499.51 Principal & Interest $0.00 Property Tax (data not provided by mls) $77.26 Homeowner's InsuranceChange Payment Information
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3520 Faxon Ave | MLS# 10219499
This multi-family property located at 3520 Faxon Ave, Memphis, TN 38122 is currently listed for sale with an asking price of $264,900. Search Memphis real estate on www.realestateinbowlinggreen.com today.