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King Edward & Standard Life Flats

Posted: 6/3/2024
140 Units
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King Edward
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Standard Life Flats
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Standard Life Flats

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About

About King Edward & Standard Life Flats

Offers Due:  Tuesday, July 23, 2024 Add to Calendar

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 140-unit, two-property portfolio of the landmark historic rehab project located in the heart of Downtown Jackson, Mississippi. The portfolio includes two iconic and historic mixed-use rehab buildings: the King Edward (64 units) and the Standard Life Flats (76 units with 3,123 of commercial SF). Located just five minutes from both I-55 and I-20, these properties are situated in a prime, high-visibility location for tenants seeking easy access to Downtown Jackson and beyond, including easy walkability to the Mississippi State Capitol building.

Built in 1922 & 1929, respectively, these properties represent an iconic fixture in the downtown Jackson skyline. Renovated in 2008 & 2010, respectively, the King Edward and Standard Life Flats portfolio offers an outstanding opportunity to invest in two adjacent historic mixed-use developments with significant market backed value-add potential supporting $150 - $200 premiums. With three commercial leases already in place, including the two cell towers atop the Standard Life building and a commercial tenant on the ground floor, and one vacant space on the ground floor left to lease, the next investor can expect to see a significant increase to bottomline NOI via an increase in commercial revenue by targeting a high-quality, long-term tenant to fill the vacancy.

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