Chestnut Flats

Chestnut Hill is one of Nashville’s most dynamic and rapidly evolving urban neighborhoods, located immediately south of Downtown and adjacent to the highly sought-after Wedgewood-Houston (WeHo) submarket. Once an industrial corridor, the area has transformed into a vibrant mixed-use district defined by adaptive reuse projects, creative office space, residential development, and a growing collection of restaurants, breweries, and experiential retail concepts. Strategically positioned along the I-65 corridor and just minutes from Downtown Nashville, Chestnut Hill offers exceptional accessibility to the city’s core employment centers, entertainment districts, and cultural amenities. The neighborhood is anchored by major redevelopment momentum, including nearby projects in WeHo, the Nashville Yards district, and continued southward urban expansion, all contributing to strong population growth and increasing demand for housing and commercial space. The area has become a hub for creatives, young professionals, and entrepreneurs, drawn by its walkability, character-rich architecture, and proximity to major venues such as Geodis Park (Nashville SC stadium), the Fairgrounds Nashville, and the burgeoning WeHo Arts District. This influx of residents and businesses has fueled a surge in new multifamily, office, and mixed-use developments, positioning Chestnut Hill as a key infill growth corridor within the Nashville MSA. With continued investment, favorable zoning in select areas, and a strong trajectory of redevelopment, Chestnut Hill presents a compelling opportunity for investors and developers seeking to capitalize on Nashville’s urban growth and long-term fundamentals.SVN | Accel Commercial Real Estate is pleased to present Chestnut Flats — a 39-unit, high-upside value-add multifamily opportunity located at 1216–1220 Lewis Street in Nashville, Tennessee. Positioned in the rapidly transforming Chestnut Hill submarket within the 37210 zip code, the property offers investors a rare opportunity to acquire a partially offline asset with significant operational and physical upside just minutes from Downtown Nashville. Originally constructed in 1959 and 1969, Chestnut Flats consists of two buildings situated on 0.66 acres, providing a manageable scale for repositioning in one of the city’s most active infill corridors. With 19 of 39 units currently offline, the property presents a true “basis play” with immediate value creation through renovation and lease-up. This level of vacancy allows a new owner to execute a phased or full-scale repositioning strategy without significant disruption to in-place tenants — a scenario rarely available in today’s supply-constrained Nashville market. All units are subject to MDHA affordability restrictions (50% and 120% AMI) through July 2029, offering a clear runway for stabilized workforce housing cash flow in the near term, with the potential for long-term strategic repositioning upon expiration. Investors can capitalize on strong rental demand in the urban core while implementing interior and exterior upgrades to drive rents within the allowable thresholds. Chestnut Flats is ideally suited for experienced value-add and distressed asset investors seeking: - A discount-to-replacement-cost acquisition - Renovation with meaningful upside - Lease-up opportunity in a high-demand submarket - Proximity to Downtown, WeHo, and major employment hubs Surrounded by ongoing redevelopment, adaptive reuse projects, and continued population growth, the property benefits from its location within one of Nashville’s most rapidly appreciating urban corridors. With the right execution, Chestnut Flats offers investors the opportunity to unlock significant value through repositioning, operational improvements, and long-term market appreciation.