Serenity at Jackson

Investment Highlights

WELL-POSITIONED FOR INTERIOR VALUE-ADD

Market rents at Serenity are currently $150 below the competitive set average. Serenity, however, has not received interior upgrades like the rest of the competitive set. An interior renovation program could increase in-place rents by $160+, and grow revenue by $400,000+.

POSITIVE LEASING MOMENTUM

The property has averaged 24 new leases per month over the past four months. Additionally, the competitive set is 96% occupied, further illustrating strong demand in the submarket.

JACKSON’S OUTSTANDING FUNDAMENTALS

The Jackson multifamily market has performed remarkably well over the past year. Rents have grown 6.8% YTD, and are projected to grow 5.2% in 2023. Supply and demand fundamentals indicate a continuation of this healthy rent growth.

LOCATED NEAR MAJOR EMPLOYERS

Serenity is located directly next to Merit Health Central, one of Jackson’s largest hospitals with 319 beds, and a short ten-minute commute to the state Capitol in Downtown Jackson.

FREE & CLEAR

Serenity at Jackson is offered to investors free and clear of any existing debt.

Investment Summary

  • Status: Available
  • Jackson, MS
  • Total Units: 199
  • Year Built: 1980
  • Occupancy: 88%
  • Avg unit Size: 848 SF
  • Market Rent: $685 ($0.81 PSF)
  • In-Place Rent: $600 ($0.70 PSF)
  • Post-Reno Rent: $760 ($0.90)

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