1542 Highway 70 E - Apartments FOR SALE


Jackson, TN 38305
$1,400,000 USD
615-973-5373
1542 Highway 70 E, Jackson, TN for Sale
$1,400,000 USD
Apartments - FOR SALE
1/25
null | 8.25% Cap Rate

1542 Highway 70 E
Jackson, TN 38305


HIGHLIGHTS

  • 36 unit community, comprised of efficiency apartments with kitchenettes and full bathrooms, and 9 tiny homes.
  • Current ownership has spent over $200,000 in cap-ex within the past 36 months.
  • Located along Highway 70 just east of downtown Jackson minutes to retail, services, and major employers.
  • Situated on 12.17 acres, providing potential for future expansion, additional units, or alternative site redevelopment.
  • The property is ser viced by well water and 4 septic tanks, minimizing ongoing municipal utility expenses and providing long-term cost savings.

OVERVIEW

Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/190426/east-70-apartments Marcus & Millichap has been selected to exclusively market for sale the East 70 Apartments in Jackson, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in the rapidly growing West Tennessee market. East 70 Apartments offers a rare opportunity to acquire a 36-unit multifamily community on 12.17 acres in the growing Jackson, TN market. Featuring a mix of traditional units and 9 revenue-generating tiny homes, with 12 renovated units and private well and septic utilities, the property provides significant value-add potential through interior upgrades, rent growth, and operational efficiencies. Its spacious, low-density layout and proximity to major employment and retail corridors make it ideal for long-term cash flow and future expansion or redevelopment. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. At no point should tenants or staff be contacted regarding the sale of the East 70 Apartments.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$82 USD /SF

# OF UNITS

36

PRICE/UNIT

$38,889

CAP RATE

8.25%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

East 70 Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

12.17 AC

LAND SF

530,125 SF

ZONING

C

APN/PARCEL ID

064-069.00,064-069.01

ASK ABOUT THIS PROPERTY

Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.