3721 Philwood Ave, Memphis, TN 38122

This is a remodeled duplex. Each unit is 2 bedrooms and 1 bath. Unattached garage. Duplex completed major renovation in 2018. Interior was gutted with new electric and plumbing up to code. New interior walls and insulation. The kitchen, den and dining was changed to open concept with very high ceilings. Upgraded to central heat and AC. This is a highly sought after High Point Terrace area. An advantage to this corner property is that the backyard lot faces High Point Terrace. The backyard lot can be utilized by adding an ADU per Memphis Planning. This gives a 3rd rental unit on same property. Another possible option is to apply for a variance to subdivide and build a cottage. A cottage variance would require approval versus an ADU can be added on this R1 lot. The best potential of this income property is that it can pull in 3 units via ADU. Also, you can live in one unit and rent out the other/s. The history of the High Point Terrace duplexes when they built them in late 40’s is that the owner lived on one side and rented the other. They were built on the corners of the neighborhood. This was a way to welcome back home our WW2 veterans when housing was very limited.