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.
Listed By
Agency Name: Crye-Leike, Inc., REALTORS
Agency Phone: (901) 340-7556
Agent Name: Tim Tanner
Estimated Payment
$ 666.82 per month $589.55 Principal & Interest $0.00 Property Tax (data not provided by mls) $77.26 Homeowner's InsuranceCrye-Leike is a full-service real estate company founded in Memphis in 1977. Today it is ranked #4 in the nation and the largest real estate company serving markets in Tennessee, Arkansas, Georgia, Mississippi. Crye-Leike has a network of more than 2,800+ licensed sales associates, 600+ staff members and over 130+ branch and franchise offices located throughout a seven state region of Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, and Tennessee. Crye-Leike also has a franchise location in Puerto Rico.
3520 Faxon Ave | MLS# 10219499
This multi-family property located at 3520 Faxon Ave, Memphis, TN 38122 is currently listed for sale by Crye-Leike, Inc., REALTORS, with an asking price of $264,900. Search Kingsbury real estate on www.crye-leike.com today.