University of Memphis Area Apartments

Memphis TN 38111

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Summary

Asking Price $2,500,000
Number of Units 29
Price per Unit $86,207
Number of Buildings 2
Number of Stories 2
Year Built 1975
Land Area 0.91 ac

University of Memphis Area Apartments offers a compelling multifamily investment opportunity located in a federally designated Opportunity Zone, just steps from the University of Memphis. This 1- and 2-bedroom townhome-style community features spacious floor plans with private balconies or patios, and has recently undergone key upgrades that position it for long-term value appreciation.

In 2022-2024, significant capital improvements were completed, including:

New luxury vinyl tile (LVT) flooring
Updated appliances and fresh paint
Installation of double-pane insulated windows on all ground-level units

Each unit is equipped with washer/dryer connections, enhancing convenience and tenant appeal. The property's townhome layout, private outdoor spaces, and walkability to a major university make it attractive to both students and long-term renters.

With physical upgrades already in place and the added benefit of Opportunity Zone tax incentives, the property presents investors with a rare blend of stability, upside potential, and strategic location in one of Memphis’s most consistently performing rental corridors.