About

1218 Jackson is comprised of 3 separate buildings containing 26 units (25 one bedroom units and 1 two bedroom unit). Originally built in 1962 the property was owned by the same family until 2015 when it was sold to CJS Jackson 26 LLC.   In 2016, the new owner invested in excess of $1.5 million renovating the complex bringing it literally down to the studs. Per Owner, each unit has been fully rehabbed featuring new wiring, plumbing, high efficiency HVAC, Low E aluminum windows, wood blinds, granite counter-tops, shaker style cabinetry, original red oak refinished hardwood flooring, stainless steel appliances, built-in microwaves and washer/dryers in each unit.   The pet friendly community is gated with a landscaped courtyard.

INVESTMENT ATTRIBUTES

• Urban infill location within close proximity to the CBD & Midtown
• Lack of near-town workforce housing. As Montrose/Midtown have densified older bungalows, duplexes and apartment complexes have been demolished to make way for high end townhouses and apartment complexes. Work force housing is diminishing at a rapid pace.
• Continued gentrification and population growth coupled with demolition of existing work force housing will provide an increasing pool of tenants.

This asset is ideal for the smaller investor.   The long term trend in Montrose is rising land values, and this property may eventually become a townhome property or some other higher use.

The property is offered at a “Market Price”.   Broker suggests a whisper price of $4,100,000.   There will be Open Houses to allow for a tour.