60 Washington St, Paris, TX 75460

Property Details for 60 Washington St

Property type

Commercial real estate

Description

This exceptional 26-unit apartment building presents a compelling value-add opportunity in Paris, Texas. The property comprises ten one-bedroom and sixteen two-bedroom units, all conveniently located just half a mile south of the town square, offering easy access to local amenities and attractions. Recent improvements include new roofs installed in 2023 and updated interiors featuring new flooring and appliances in select units, ensuring immediate rental readiness. Tenants are responsible for their electricity, while water and trash services are covered by the owner. The property benefits from a strong local economy driven by major employers such as Paris Regional Medical Center (over 1,000 employees), Paris Junior College (over 6,000 students), and the Soup & Silgan Can Company. Further economic growth is anticipated with the completion of the $1.6 billion Samson Solar Energy Center project in 2025, injecting $450 million into the local economy. Paris, Texas, a designated Certified Texas Retirement Community, offers a desirable suburban lifestyle. This property presents a significant opportunity for investors to increase rental income and stabilize occupancy, generating substantial cash flow. All units will be delivered rent-ready to the new owner. The property's prime location and the ongoing economic development in the area make this a highly attractive investment prospect.

Location Insight

City

Paris

County

Lamar

State

Texas

Longitude

-95.5569381

Latitude

33.6545556