230 Beasley RdJackson, MS 39206

Property Details for 230 Beasley Rd

Year built

1990

Property type

Residential income properties

Property subtype

Retirement homes

Description

This exceptional 90-unit senior living apartment building presents a compelling investment opportunity in Jackson, Mississippi. Located at 230 Beasley Rd, 39206, this Class B property enjoys a prime location between I-220 and I-55 in the Northeast Jackson market. Built in 1990 and extensively renovated in 2021, the three-story building boasts a 100% occupancy rate as of May 23, 2024, generating a strong NOI of $377,276 and a 7.55% cap rate. The asking price is $5,000,000, translating to $55,555.56 per unit. Recent capital expenditures include a new roof (April 2024) and a modernized elevator. The property features a desirable mix of one and two-bedroom apartments, catering to the 55+ community with an emphasis on affordability. This fee-simple ownership offers a stabilized asset with significant potential for substantial and sustainable returns, benefiting from its excellent location and strong current performance. The property's recent capital improvements and high occupancy rate contribute to its financial strength and long-term viability. This is a rare opportunity to acquire a well-maintained, high-performing senior living community in a thriving Jackson, MS market.

Location Insight

City

Jackson

County

Hinds

State

Mississippi

Latitude

32.3876

Longitude

-90.1545

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