Discover Old Hickory 40 – A Renovated 40-Unit Investment in Jackson, TN
Old Hickory 40 offers the opportunity to acquire a 40-unit multifamily property on approximately five acres at 809 Old Hickory Boulevard in Jackson, Tennessee. The property includes 32 apartment units built in 1973 and eight cottage units built in 2010. Following approximately $2 million in seller-reported renovations completed in 2022–2023, the property offers extensive recent improvements alongside an opportunity to increase occupancy.
The unit mix consists of eight 1-bedroom, 1-bath apartments; twenty-four 2-bedroom, 1-bath apartments; and eight 2-bedroom, 1-bath cottages. The property totals approximately 31,304 square feet. Two-bedroom apartments and cottages feature in-unit laundry, while residents of the 1-bedroom apartments have access to community laundry. Tenants pay for water and electric.
Recent improvements include full interior renovations, new roofs on the four apartment buildings, 32 new HVAC units, new windows and gutters, exterior painting, and a repaved parking lot. The cottages have also received painting and repairs as needed and feature metal roofs. As of the September 2026 rent roll, 35 of the 40 units are leased, giving a buyer an opportunity to increase income by filling the remaining vacancies.
The five-acre site may offer longer-term upside as well. The seller has identified a concept for up to 22 additional cottages at the rear of the property, potentially bringing the total to 62 units. Any expansion would require buyer verification of zoning, site capacity, costs, and necessary approvals.
Jackson serves as a regional center for West Tennessee, with employment in healthcare, manufacturing, and education and direct access to I-40 between Memphis and Nashville.
Investment Highlights:
- 40-Unit Multifamily Property: Eight 1-bedroom apartments, twenty-four 2-bedroom apartments, and eight 2-bedroom cottages
- Extensive Recent Renovations: Approximately $2 million in seller-reported improvements completed in 2022–2023
- Major Capital Improvements: New roofs and 32 new HVAC units for the apartment buildings, plus new windows, gutters, exterior paint, and parking lot paving
- Lease-Up Opportunity: 87.5% occupied as of the September 2026 rent roll, with five units available to lease
- Tenant-Paid Utilities: Residents pay water and electric
- Laundry Options: In-unit laundry in the 2-bedroom apartments and cottages; community laundry for the 1-bedroom apartments
- Five-Acre Site: Parking lot and land the seller has identified for possible cottage expansion
- Potential Development Upside: Seller concept for up to 22 additional cottages, subject to buyer due diligence and approvals
