Discover the investment potential of 303 Flats, a 28-unit multifamily apartment community located at 303 S Poplar Street in Paris, Tennessee. This substantially renovated property offers an established residential setting, a diverse unit mix, and additional land included in the offering, making it an attractive consideration for investors looking to expand their multifamily portfolios in West Tennessee. PROPERTY OVERVIEW Situated on approximately 0.784 acres, 303 Flats encompasses approximately 16,876 square feet, including 15,750 square feet of residential space. The three-story property features 28 apartment units with a mix of 13 studios, 10 one-bedroom/one-bathroom units, four two-bedroom/one-bathroom units, and one two-bedroom/one-and-a-half-bathroom unit. Additional property features include on-site laundry facilities, office space, maintenance areas, and parking. EXTENSIVE RENOVATIONS & IMPROVEMENTS Ownership has completed renovations to 25 of the property's 28 apartment units, including improvements to flooring, cabinetry, appliances, lighting, bathroom vanities, ceiling fans, trim, baseboards, and interior paint. Exterior improvements include fresh paint, a newly paved parking lot, and foundation repairs. These improvements represent significant investment in the property's interior and exterior infrastructure. ADDITIONAL INVESTMENT POTENTIAL The offering includes three parcels, with two additional land parcels situated behind the existing apartment building. The property also features existing office and maintenance areas, along with space identified in the offering memorandum as having potential for conversion into additional residential units. Any future conversion or development would be subject to feasibility, zoning, permitting, and applicable approvals. The combination of existing residential units, completed improvements, and additional land provides investors with opportunities to evaluate the property's current operations and potential future uses. CENTRAL PARIS, TENNESSEE LOCATION Located just minutes from downtown Paris, 303 Flats offers convenient access to local employers, shopping, dining, healthcare facilities, schools, and essential services. Paris serves as a regional center for commerce, healthcare, education, and industry in Northwest Tennessee. The property's location also provides access to recreational destinations throughout Henry County, including nearby Kentucky Lake. EXPLORE THE OPPORTUNITY With 28 residential units, extensive property improvements, and a three-parcel offering, 303 Flats presents an opportunity for investors seeking an established multifamily property in West Tennessee. Additional property information, financial documentation, and investment materials are available upon request. Contact the listing agent to learn more or arrange a property showing.
