Woodtrail Apartments

3610 Spottswood Ave., Memphis TN 38111

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Summary

Asking Price $2,300,000
Number of Units 29
Price per Unit $79,310
Number of Buildings 2
Number of Stories 2
Year Built 1975
Land Area 0.91 ac

Lender has preapproved the property for a loan! See document portal for details.

Woodtrail 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 some units have 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 and flats unit mix offer a nice variety of floor plans with private outdoor spaces, and walkability to a major university makes it attractive to both students and residents that love the East Memphis area.

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.