2425 Atrium Way - Apartments FOR SALE


Nashville, TN 37214- Merry Oaks
$15,375,000 USD
2425 Atrium Way, Nashville, TN for Sale
$15,375,000 USD
Apartments - FOR SALE
1/33
null | Request Cap Rate

2425 Atrium Way
Nashville, TN 37214
Merry Oaks


HIGHLIGHTS

  • Immediate Upside: Recently approved by MDHA for voucher program - implementation allowing potential increases to rents for studios to $1602, one bedr
  • Newly Renovated (2024): Atrium Flats offers investors a true turnkey opportunity with minimal near-term capital needs.
  • Strong Rent Positioning: Current asking rents average $1,063 ($3.05/SF) — well below submarket averages of $1,438 ($3.21/SF)
  • High-Demand Micro-Unit Concept: Studio and one-bedroom units comprise over 95% of the property mix
  • Professional Management: Operated by Elmington Property Management, one of the region’s leading multi-family operators.
  • Excellent Connectivity: Located just off Briley Parkway and Elm Hill Pike, within 10 minutes of Downtown Nashville, Opry Mills, and BNA

OVERVIEW

SVN | Accel Commercial Real Estate is proud to present Atrium Flats, a newly renovated 123-unit multifamily community ideally positioned in the Merry Oaks neighborhood of Nashville, Tennessee. Atrium Flats delivers modern, efficient housing in one of the city’s fastest-growing submarkets, strategically located between Downtown Nashville, the airport corridor, and Donelson. Purposefully designed for Nashville’s evolving renter demographic, Atrium Flats offers a mix of studio, one-bedroom, and two-bedroom units averaging 354 square feet, combining contemporary finishes with functional layouts that cater to working professionals, students, and service-sector tenants seeking high-quality living at attainable price points. Immediate Upside: Recently approved by MDHA for voucher program - implementation of Section 8 allowing potential increases to rents for studios to $1602, one bedrooms to $1665 and two bedrooms to $1845. Newly Renovated (2024): Atrium Flats offers investors a true turnkey opportunity with minimal near-term capital needs. Strong Rent Positioning: Current asking rents average $1,063 ($3.05/SF) — well below submarket averages of $1,438 ($3.21/SF) offering significant upside as lease-up stabilizes. High-Demand Micro-Unit Concept: Studio and one-bedroom units comprise over 95% of the property mix, aligning with Nashville’s surging demand for attainable, efficient housing. Professional Management: Operated by Elmington Property Management, one of the region’s leading multi-family operators. Excellent Connectivity: Located just off Briley Parkway and Elm Hill Pike, within 10 minutes of Downtown Nashville, Opry Mills, and Nashville International Airport.

FOR SALE DETAILS

PRICE

$15,375,000 USD

PRICE/SF

$186 USD /SF

# OF UNITS

123

PRICE/UNIT

$125,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Atrium Flats

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2024

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.65 AC

LAND SF

115,464 SF

ZONING

MUL-NS

APN/PARCEL ID

095-10-0-128

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