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.