Courtesy: SVN Accel Commercial Real Estate
615-671-4544
SVN Accel Commercial Real Estate is pleased to present 303 Flats, a 28-unit multifamily investment opportunity located at 303 S. Poplar Street in Paris, Tennessee. This substantially renovated asset presents investors with the opportunity to acquire a well-positioned apartment community featuring immediate in-place cash flow, strong occupancy, and continued upside through lease-up and future rent growth. Situated on 0.784 acres, 303 Flats encompasses approximately 16,876 square feet, including 15,750 sf of residential space across 28 units. The property's diverse unit mix consists of (13) studio units, (10) one-bedroom/one-bathroom units, (4) two-bedroom/one-bathroom units, and (1) two-bedroom/one-and-one-half-bathroom unit. The remaining square footage includes an on-site office, maintenance area, and laundry facilities. Currently 93% occupied, the property offers investors an opportunity to increase occupancy and further enhance cash flow. Ownership has completed an extensive renovation program across 25 of the property's 28 units, investing in new flooring, cabinets, appliances, lighting fixtures, trim and baseboards, ceiling fans, bathroom vanities, and interior paint. Significant exterior and capital improvements include fresh exterior paint, a newly paved parking lot, and approximately $20,000 in foundation repairs, creating a highly attractive, low-maintenance investment opportunity with limited near-term capital expenditure requirements. The sale includes 3 parcels, including two land parcels located behind the existing building.
Andrea D. Conner, License 344441, Xome Inc., License 262361, [email protected], 844-400-XOME (9663), 751 Highway 121 Bypass, Suite 100, Lewisville, Texas 75067
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Paris is located in Tennessee. Paris, Tennessee has a population of 10,332. Paris is less family-centric than the surrounding county with 16.86% of the households containing married families with children. The county average for households married with children is 22.71%.
The median household income in Paris, Tennessee is $35,958. The median household income for the surrounding county is $43,444 compared to the national median of $69,021. The median age of people living in Paris is 39.7 years.
The average high temperature in July is 89.1 degrees, with an average low temperature in January of 27.2 degrees. The average rainfall is approximately 53.7 inches per year, with 4.9 inches of snow per year.
