Lebanon, MISSOURI 65536

$1,995,000
33,904
SqFt
List Price
$1,995,000
Days on Market
49
MLS#
21009770
Status
ACTIVE
Living Sq. Ft
33,904
Lot Size
193,842
Sq. Ft. Above
33,904
Acres
4.45
Year Built
1999
Subdivision
Lebanon Sundance Apartments
Municipality
Lebanon
County
Laclede
Year Built
1999
Listing Type
Multifamily

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.

Additional Information

Gross Operating Income
240516
Total Expenses
$129,612
School District
Lebanon R-III
Elementary School
Lebanon RIII
Jr. High School
Lebanon Jr. High
Sr. High School
Lebanon Sr. High
Construction
Brk/Stn Veneer Frnt, Frame, Vinyl Siding
Parking Description
2+ Space/Unit, Parking Lot
Cooling
Central-Electric
Sewer
Public
Heating
Forced Air, Individual Furnaces
Water
Public
Heat Source
Gas
Price Per Sq. Ft
58.84
Taxes Paid
7043
Selling Terms
Cash, Conventional, Other
Transaction Agent Commission
3
Buyers Agent Commission
3

Mortgage Calculator

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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of Keller Williams Greater Springfield.

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