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East 70 Apartments 1542 Highway 70 E 36 Unit Apartment Building $1,936,746 CAD ($53,798 CAD/Unit) 8.25% Cap Rate Jackson, TN 38305
INVESTMENT HIGHLIGHTS
- 36 unit community, comprised of efficiency apartments with kitchenettes and full bathrooms, and 9 tiny homes.
- Located along Highway 70 just east of downtown Jackson minutes to retail, services, and major employers.
- The property is ser viced by well water and 4 septic tanks, minimizing ongoing municipal utility expenses and providing long-term cost savings.
- Current ownership has spent over $200,000 in cap-ex within the past 36 months.
- Situated on 12.17 acres, providing potential for future expansion, additional units, or alternative site redevelopment.
EXECUTIVE SUMMARY
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.
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.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,936,746 CAD | Apartment Style | Garden |
| Price Per Unit | $53,798 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 12.17 AC |
| Cap Rate | 8.25% | Building Size | 17,046 SF |
| No. Units | 36 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | ||
| Zoning | C | ||
| Price | $1,936,746 CAD |
| Price Per Unit | $53,798 CAD |
| Sale Type | Investment |
| Cap Rate | 8.25% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 12.17 AC |
| Building Size | 17,046 SF |
| No. Stories | 1 |
| Year Built | 1930 |
| Zoning | C |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 31 | - | 432 |
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $238,358 CAD | |
| Land Assessment | $38,295 CAD | Total Assessment | $276,653 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$38,295 CAD
Improvements Assessment
$238,358 CAD
Total Assessment
$276,653 CAD
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East 70 Apartments | 1542 Highway 70 E
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