303 Flats

303 Flats is strategically located in the heart of Paris, Tennessee, a regional hub for commerce, healthcare, education, and industry in Northwest Tennessee. Positioned just minutes from downtown Paris, the property offers residents convenient access to local employers, retail centers, restaurants, schools, and essential services, creating a highly desirable living environment for a broad tenant base. The surrounding area benefits from a diverse economic foundation supported by manufacturing, healthcare, government, and educational institutions. Residents enjoy proximity to the city’s historic downtown district, recreational amenities, and the area's strong quality-of-life attributes, including nearby Kentucky Lake and outdoor recreation opportunities. The property's central location provides efficient access throughout Henry County while maintaining the neighborhood character that continues to attract long-term residents.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 three parcels, including two land parcels located behind the existing building. Additionally, two spaces in the existing building currently used as storage/office can be converted to create two more units, bringing the total to 30.