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.

Details

MLS#21009770
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1999
Days On Site5

Features

SQ Feet33,904
Building(s)1

Market Activity 65536

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Area Information
StateMO
CountyLaclede
CityLebanon
Zip Code65536
AreaLebanon
Listing VS Median (in 65536)
Price:
$1,995,000
low | high
Med:
$1,995,000
50% of Average
SqFt:
33,904
low | high
Med:
33,904
50% of Average
$ / SqFt:
$59
low | high
Med:
$59
50% of Average
On Site:
5
low | high
Med:
5
100% of Average
Listing Updated: February 25, 2021 8:01:18 PM PST
David Waln LogoMLS Number: 21009770
Listing Provided By:
David Waln  of  Keller Williams Greater Spring
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the St. Louis Association of REALTORS.