Ryan McClanahan
REALTOR®, ABR®, PSA, LRS
BEDS0
BATHS
SQUARE FEET16,876
MLS#3279199
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
Property Description
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.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air
Heating: Central
Lot Size: 0.784 ac
Stories: 2.0
Taxes: $3,548
Year Built: 1940
Feature Descriptions
Days on Site: 5
Exterior: Brick
Flooring: Luxury Vinyl, Vinyl
Laundry: Share
Lot Dimensions: 0.784 ac
Parcel#: 106A H 01300 000
Sewer: Public Sewer
Units: 28
Utilities: Water Available
Water: Public
Local Schools
High School: Henry Co High School
Middle School: W O Inman Middle School
Elementary School: W G Rhea Elementary
Listed By / Shown By
Listed By
Agency Name: SVN Accel Commercial Real Estate
Agency Phone: 6156714544
Shown By
Agent Name: Ryan McClanahan
Agent Phone: (678) 523-9383
Agency Title: Crye-Leike Real Estate Services
Source: Nashville MLS
Estimate Your Payment
Estimated Payment
$ 295.67 per month $0.00 Principal & Interest $295.67 Property Tax $0.00 Homeowner's InsuranceChange Payment Information
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303 S Poplar St | MLS# 3279199
This multi-family property located at 303 S Poplar St , Paris, TN 38242 is currently listed for sale with an asking price of call for price. Search Paris real estate on ryan.crye-leike.com today.