144-Unit Apartment Renovation
For Sale
Contact for pricing
Pending
850 Lindbergh Dr, Jackson, MS 39209
144-unit multifamily property with in-unit upgrades already completed in select units and a cosmetic-focused renovation path.
Property Size140,560 SF
Days on Market63
Property Features for 850 Lindbergh Dr
General Information
Standard status
Pending
Size
140,560 SF
Class
C
Total Parking Spaces
234
Property subtype
Multifamily
Zoning
R-4 (Limited Multifamily Residential)
Occupancy
98%
Investment Type
Value Add
Net Operating Income
$554,294
Additional Details
Cap Rate
8%
Multifamily Units
144
Building Details
Year Built
1975
Buildings
18
Units
144
Listing Agency:
Newmark - Memphis
Listed By:
Gray Fiser · License #MS S-52755
(901) 260-1154
Source:
Crexi
Added: Jul 2
Changed: Aug 27
Last Checked: Aug 31 at 7:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Newmark - Memphis
Investment Insights
Based on property information with market context.
The Residences at Glen Oaks is a 144-unit apartment property offering a renovation-focused upgrade program. The units feature original honey oak cabinetry, white coil-burner appliances, and laminate countertops, with LVP flooring already installed in a number of units. The planned scope is targeted paint, reface, and replace work that is described as requiring no structural changes.
The property is located at 850 Lindbergh Dr in Jackson, MS 39209. The public remarks discuss the galley kitchen footprint and note that nearby comparable properties, Graystone Hills and The Park at Queens Court, are reported to achieve $1,103/unit and $1,020/unit respectively after cosmetic renovations.
For investors or operators seeking a cosmetic renovation strategy, the proposed approach is positioned as incremental and rolling as units naturally turn, targeting a post-renovation premium of $125 per unit per month across all 144 units as stated in the remarks. The current improvement plan is designed to control scope by prioritizing finishes rather than structural modifications, aligning with a straightforward upgrade path for value-oriented underwriting.
The property is located at 850 Lindbergh Dr in Jackson, MS 39209. The public remarks discuss the galley kitchen footprint and note that nearby comparable properties, Graystone Hills and The Park at Queens Court, are reported to achieve $1,103/unit and $1,020/unit respectively after cosmetic renovations.
For investors or operators seeking a cosmetic renovation strategy, the proposed approach is positioned as incremental and rolling as units naturally turn, targeting a post-renovation premium of $125 per unit per month across all 144 units as stated in the remarks. The current improvement plan is designed to control scope by prioritizing finishes rather than structural modifications, aligning with a straightforward upgrade path for value-oriented underwriting.
Key Highlights
- 144‑unit multifamily property built in 1975
- Units feature original honey oak cabinetry, white coil‑burner appliances, and laminate countertops
- LVP flooring has already been installed in select units
Property Analytics
Property Profile
Current Use
Lease Details
144
Residential units
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Explore this area
Business Placement
Demographics for 39209, MS
25,227
Population
12,438
Households
2
Avg Household Size
38
Median Age
20%
College-Educated
84%
High-School Grad
62.3 sq mi
ZIP Area
405
Density / Sq Mi
$35,103
Median Household Income
$27,351
Median Earnings
$969
Median Rent
$74,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 144-unit multifamily property with in-unit upgrades already completed in select units and a cosmetic-focused renovation path.
Where is this apartment building located?
The property is located at 850 Lindbergh Dr Jackson, MS.
What are key features of this property?
This property features: 144‑unit multifamily property built in 1975; Units feature original honey oak cabinetry, white coil‑burner appliances, and laminate countertops; LVP flooring has already been installed in select units
