5 Units | Single-Story | Hub City

Highlights

• Great unit mix of primarily 2B/1B
• Strong rental market near Regional Hospital and major employers
• All single-story building which reduces repair costs
• Washer/Dryer hook-ups, metered electric, & individual water heaters
• Recently renovated
• Upside in Rents with more efficient management

Description

TN Firm Lic.265971
Broker Lic.371574
Adrian Del Rio
(615)626-6426 Direct
99 E Main St., STE 200
Franklin, TN 37064

Presenting a solid investment opportunity to acquire 5 apartment units located at 125 North Fairgrounds Street in Jackson, TN. This multifamily property features a 3,769 SF, single-story building with 5 units, showcasing a desirable unit mix primarily consisting of 2B/1B layouts.

Renovated in 2024, this asset offers standard amenities with washer/dryer hook-ups, metered electric, and individual water heaters. Situated in a strong rental market near the Regional Hospital and major employers, this property presents an attractive opportunity for a first-time investor or an investor that owns in the market seeking to expand their portfolio. With excellent potential for increased rents through efficient management and some additional improvements, this can result in a nice cash-flow opportunity.

*Currently there's one (1) down unit that is need of a complete renovation (Buyer's to obtain their own contractor bids).

125 N Fairgrounds is located in the western portion of the revitalized downtown near the Jackson Walk community which features 180 newly built apartment units, new construction for sale housing, the Lift Fitness Center, Grubb’s Grocery, Rock N Dough Pizzeria, and the Farmer’s Market. The area is considered an opportunity zone due to its historic nature and the continued restoration of these buildings and neighborhoods. The City of Jackson along with the Federal / City Courthouses main offices are in the downtown just blocks from the subject property showing their commitment to the downtown market. Furthermore, Jackson General Regional Hospital is a huge medical service area for the entire region and is located less than a mile from these apartments.

The City of Jackson is almost directly between Nashville and Memphis. Jackson, also known as Hub City, is a major retail, employment, and entertainment hub for the West Tennessee area serving a daytime work force population of 300,000 people. The resident population is approximately 68,000 (2023) however the region serves about 250,000 people during the weekend since it features anchored amenities such as Walmart, Home Depot, Lowe’s, Best Buy, and corporate restaurants.

Most importantly, Jackson features major employers such as Toyota, Stanley Black & Decker, Tyson Chicken Head Quarters (Gibson), Pinnacle Foods, Delta Faucet, Kellogg' s, Owen's Corning, Gerdau, West Tennessee Healthcare (2 major regional hospitals), plus Lane College and the University of Memphis at Lambuth.

Jackson has experienced tremendous growth due to the high levels of domestic migration out of high-cost major cities such as Nashville and Memphis into cities with lower rents, lower housing prices, and excellent employment opportunities. This migration has increased housing demand along with rents which have resulted in a housing shortage.