961 Old Hickory Blvd - Apartments FOR SALE


Jackson, TN 38305
$1,875,000 USD
615-973-5373
961 Old Hickory Blvd, Jackson, TN for Sale
$1,875,000 USD
Apartments - FOR SALE
1/47
null | 6.42% Cap Rate

961 Old Hickory Blvd
Jackson, TN 38305


HIGHLIGHTS

  • 24-unit townhome community consisting entirely of 1 bed / 1 bath floorplans with a functional two-story layout.
  • Rents are currently $105 below the market rate.
  • Townhome-style units offer increased privacy and separation of living and bedroom spaces compared to traditional apartment layouts.
  • Individually metered for water and electricity.
  • Majority of units have been renovated, providing upside through completion of the remaining unrenovated units.

OVERVIEW

Link to the Deal Room and Financials: https://www.?marcusmillichap.?com/properties/309929/old-hickory-townhomes Marcus & Millichap has been selected to exclusively market for sale the Old Hickory Townhomes in Jackson, Tennessee.? This offering provides investors the opportunity to acquire a rare value-add multifamily asset in a growing West Tennessee market.? Old Hickory Townhomes is a 24-unit townhome community located in the heart of North Jackson, one of the city’s strongest apartment submarkets.? The property features a desirable all one-bedroom townhome floorplan with washer and dryer hookups, individual water and electric metering, and a substantial interior renovation program completed throughout a majority of the units.? Recent capital improvements, including a community-wide metal roof and updated HVAC systems across nearly the entire property, position the asset as a well-maintained investment with remaining value-add upside through continued interior upgrades and operational enhancements.? 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 Old Hickory Townhomes.?

FOR SALE DETAILS

PRICE

$1,875,000 USD

PRICE/SF

$117 USD /SF

# OF UNITS

24

PRICE/UNIT

$78,125

CAP RATE

6.42%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Old Hickory Townhomes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.66 AC

LAND SF

72,310 SF

ZONING

-

APN/PARCEL ID

066-003.08

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.