120 Cloverdale St - Apartments FOR SALE


Jackson, TN 38301
$1,850,000 USD
615-997-2853
120 Cloverdale St, Jackson, TN for Sale
$1,850,000 USD
Apartments - FOR SALE
1/25
null | 6.31% Cap Rate

120 Cloverdale St
Jackson, TN 38301


HIGHLIGHTS

  • Located in one of Tennessee's fastest-growing markets
  • Rents are currently $234 below market rate
  • Over $30,000 spent on capital improvements between October-November 2024
  • Recent capital improvements include overhauling the gas lines and replacing the roof on 1 building
  • All units have washer/dryer connections
  • All units are individually metered for water and electric

OVERVIEW

Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/168742/cloverdale-apartments Marcus & Millichap has been selected to exclusively market for sale the Cloverdale Apartments in Jackson, TN. This 18-unit offering will allow potential investors to purchase a rare value-add opportunity located in one of Tennessee’s fastest growing markets, Jackson, TN. With the new 900,000 square foot Georgia-Pacific facility recently built as well as the $5.6 billion Ford BlueOval City which is expected to be completed towards the end of 2027, this offering will allow potential investors to capitalize on the rapidly growing market of Jackson, TN. 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 Cloverdale Apartments

FOR SALE DETAILS

PRICE

$1,850,000 USD

PRICE/SF

$113 USD /SF

# OF UNITS

18

PRICE/UNIT

$102,778

CAP RATE

6.31%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cloverdale Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2007

PARKING SPACES

37

LAND DETAILS

LAND ACRES

1.42 AC

LAND SF

62,052 SF

ZONING

-

APN/PARCEL ID

078M-F-001.01

ASK ABOUT THIS PROPERTY

Patrick CosgroveMarcus & MillichapMore Info
615-997-2853

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Patrick CosgroveMarcus & MillichapMore Info
615-997-2853

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