3520 Faxon Ave, Memphis, TN 38122
- $245,000
- Sold Price
- $245,000
- List Price
- $264,800
- Closing Date
- May 28, 2026
- MLS#
- 10219499
- Property Type
- Multifamily
- Lot Size
- 100X200
- Status
- CLOSED
Property Description
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.
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Additional Information
- Actual Annual Rent
- 35400
- Annual City Tax
- 2003
- Annual County Tax
- 2088
- Annual Insurance Expense
- 2487
- Construction
- Other (See Remarks), Wood/Composition
- Foundation
- Conventional/Crawl Space, Partial Basement, Slab
- Hot Water
- Public Sewer, Public Water
- Legal Subdivision
- Highland Heights Blk 19
- Lot
- 18
- Lot Size
- 100X200
- New Financing
- Conventional
- Occupancy
- 100
- Parking Facility
- Detached, Gravel, Offsite/Street
- Roof
- Shingle/Shake
- Stories
- 2
- Subdivision
- HIGHLAND HEIGHTS BLK 19
- Subtype
- Triplex
- Tenant Pays
- Other (Call LA), Some Utilities
- Year Built
- 1920
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Listing courtesy of Crye-Leike, Inc., REALTORS. Selling Office: Ware Jones, REALTORS.
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Copyright© 2026 Memphis Area Association of REALTORS®. The information provided is for the consumer's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties that the consumer may be interested in purchasing. Information deemed reliable, but is not guaranteed accurate. Some or all of the listings displayed may not belong to the firm whose web site is being visited.