Cloverdale Apartments | 120 Cloverdale St
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Cloverdale Apartments 120 Cloverdale St
18 Unit Block of Flats £1,447,533 (£80,418/Unit) 6.31% Net Initial Yield Jackson, TN 38301
Investment Highlights
- Located in one of Tennessee's fastest-growing markets
- Over $30,000 spent on capital improvements between October-November 2024
- All units have washer/dryer connections
- Rents are currently $234 below market rate
- Recent capital improvements include overhauling the gas lines and replacing the roof on 1 building
- All units are individually metered for water and electric
Executive Summary
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
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
Property Facts
| Price | £1,447,533 | Apartment Style | Townhome |
| Price Per Unit | £80,418 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.42 AC |
| Net Initial Yield | 6.31% | Building Size | 16,425 SF |
| No. Units | 18 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 2007 |
| Property Subtype | Apartment | Parking Ratio | 2.25/1,000 SF |
| Price | £1,447,533 |
| Price Per Unit | £80,418 |
| Sale Type | Investment |
| Net Initial Yield | 6.31% |
| No. Units | 18 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 1.42 AC |
| Building Size | 16,425 SF |
| Number of Floors | 2 |
| Year Built | 2007 |
| Parking Ratio | 2.25/1,000 SF |
Unit Amenities
- Fireplace
- Microwave
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 18 | £716.72 | 913 |
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PROPERTY TAXES
| Parcel Number | 078M-F-001.01 | Improvements Assessment | £256,143 |
| Land Assessment | £39,060 | Total Assessment | £295,203 |
PROPERTY TAXES
Parcel Number
078M-F-001.01
Land Assessment
£39,060
Improvements Assessment
£256,143
Total Assessment
£295,203
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Cloverdale Apartments | 120 Cloverdale St
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