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    Address Not Available By Request

    Lebanon, MO 65536
    • $1,995,000
    • STATUS: Active
    • ON SITE: 48 days
    • ID#: 21009770
    UPDATED: 52 min ago
    $1,995,000
    • 0
      BEDS
    • 4.45
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 33,904
      SQFT
    • $59
      $/SQFT
    Type:
    Multi-Family
    Built:
    1999
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:
    School District:

    Description

    Lebanon Sundance Apartments is a well maintained two building low rise apartment complex located in Lebanon, MO with easy on/off to I-44 and immediate proximity to all local services and amenities. This is an attractive affordable housing community designed to provide affordable rent to moderately low and middle income individuals and families. There is a strong rental demand for these units, hence a low vacancy rate. Property has an onsite Property Manager and office. Landlord pays water, sewer and trash, and, Tenants pay their other utilities. There is an onsite walking trail, picnic area, volley ball court and playground, plus plenty of open space. This is a stable and profitable investment showing a 5.5 cap rate and the ability to increase rents 7% per year. There is a tremendous windfall profit potential in 2028 when property is released from LIHTC program and able to achieve market rents (see LIHTC Program addendum).Shown by appointment only. Sale subject to MHDC approval.

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    Listing information © 2021 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2021-04-11T10:48:52.487.

    Parson Realty Group: 314-614-9731
    www.parsonrealtygroup.com/homes/114396113
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    Address Not Available By Request Lebanon, MO 65536

    • Price: $1,995,000
    • Status: Active
    • Updated: 52 min ago
    • ID#: 21009770
    0
    Beds
    0
    Baths
    0
    ½ Baths
    4.45
    Acres
    33,904
    SQFT
    $59
    $/SQFT
    1999
    Built
    Neighborhood:
    Lebanon Sundance Apartments
    County:
    Laclede
    Area:
    Lebanon
    Elementary School:
    Lebanon Riii
    Middle School:
    Lebanon Jr. High
    High School:
    Lebanon Sr. High
    School District:
    Lebanon R-Iii
    Property Description
    Lebanon Sundance Apartments is a well maintained two building low rise apartment complex located in Lebanon, MO with easy on/off to I-44 and immediate proximity to all local services and amenities. This is an attractive affordable housing community designed to provide affordable rent to moderately low and middle income individuals and families. There is a strong rental demand for these units, hence a low vacancy rate. Property has an onsite Property Manager and office. Landlord pays water, sewer and trash, and, Tenants pay their other utilities. There is an onsite walking trail, picnic area, volley ball court and playground, plus plenty of open space. This is a stable and profitable investment showing a 5.5 cap rate and the ability to increase rents 7% per year. There is a tremendous windfall profit potential in 2028 when property is released from LIHTC program and able to achieve market rents (see LIHTC Program addendum).Shown by appointment only. Sale subject to MHDC approval.
    Exterior Features

    Building Exterior Amenities Other Recreation Building Style Low/1-2 Construction Brk/Stn Veneer FrntFrameVinyl Siding Location City Lot Dimensions 390'X500'x385'x500' Parking Description 2+ Space/UnitParking Lot

    Interior Features

    Building Unit Info Smoke/Alarm Detector Cooling Central-Electric Heat Source Gas Heating Forced AirIndividual Furnaces Laundry Prvt Laund All Units Water Heater Gas

    Property Features

    Assoc Fee 0 Association Regional Mls Conditions Unknown Cross Street Address Ivey Lane Disclosures Flood Plain NoFlood Plain YesSellers Discl Not Av Gross Operating Income 240516.00 Lot Size Source County Records Net Income 110904.00 Ownership Private Possession At Closing Possible Buyer Fees YN No Propane Tank None Property Type Multi-Family 5+ Sale Includes Building & Land Selling Terms CashConventionalOther Sewer Public Special Listing Conditions None Square Footage Source County Records Tax Year 2020 Taxes Paid 7043 Tenancy Type LeasesMonth To MonthSubsidized Rents Tenant Pays All UtilitiesCable Tv/SatelliteElectricGas Total Expenses 129612.00 Transaction Type Sale Type Apartment Complex Water Public

    Listing provided courtesy of Keller Williams Greater Spring. Listing information © 2021 Mid America Regional Information Systems, Inc.
    Listing information © 2021 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2021-04-11T10:48:52.487.

    Parson Realty Group: 314-614-9731
     
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    Parson Realty Group
    856 Waterbury Falls Dr Suite 200
    O'Fallon MO, 63368