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Lebanon Sundance Apartments 1031 Ivey Ln 40 Unit Apartment Building $2,525,000 ($63,125/Unit) 5.99% Cap Rate Lebanon, MO 65536
Investment Highlights
- The property is currently under a Low- Income Housing Tax Credit (LIHTC) program with 3 years remaining on the Land Use Restriction Agreement (LURA).
- The property features 32 two-bedroom units (828 SF) and 8 three-bedroom units (926 SF), making it an ideal choice for a wide tenant base.
- Sundance Apartments is well-equipped with amenities such as a children’s playground, sand volleyball court, BBQ gazebo, dog station, & green space.
Executive Summary
Sundance Apartments, located at 1031 Ivey Lane in Lebanon, Missouri, offers an exceptional investment opportunity with 40 well-maintained units
situated on a 4.45-acre lot. Built in 1999, the property consists of two 20-unit buildings and offers a highly desirable mix of spacious two- and threebedroom
apartments. With a strong set of amenities and an attractive unit layout, Sundance Apartments provides investors with immediate value
and long-term potential.
Sundance Apartments presents a rare opportunity for experienced investors to acquire a property with a solid current cash flow and substantial
future upside once the LURA expires. The combination of a desirable unit mix, extensive amenities, and a strong rental growth potential makes this
an attractive investment in a growing community.
situated on a 4.45-acre lot. Built in 1999, the property consists of two 20-unit buildings and offers a highly desirable mix of spacious two- and threebedroom
apartments. With a strong set of amenities and an attractive unit layout, Sundance Apartments provides investors with immediate value
and long-term potential.
Sundance Apartments presents a rare opportunity for experienced investors to acquire a property with a solid current cash flow and substantial
future upside once the LURA expires. The combination of a desirable unit mix, extensive amenities, and a strong rental growth potential makes this
an attractive investment in a growing community.
Data Room Click Here to Access
Property Facts
| Price | $2,525,000 | Building Class | C |
| Price Per Unit | $63,125 | Lot Size | 4.46 AC |
| Sale Type | Investment | Building Size | 33,904 SF |
| Cap Rate | 5.99% | Average Occupancy | 98% |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| No. Units | 40 | Year Built | 1999 |
| Property Type | Multifamily | Parking Ratio | 1.47/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | Multi-Family | ||
| Price | $2,525,000 |
| Price Per Unit | $63,125 |
| Sale Type | Investment |
| Cap Rate | 5.99% |
| Sale Condition | 1031 Exchange |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 4.46 AC |
| Building Size | 33,904 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1999 |
| Parking Ratio | 1.47/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Picnic Area
- Playground
- Property Manager on Site
- Grill
- Volleyball Court
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 32 | - | 828 |
| 3+2 | 8 | - | 926 |
1 1
Property Taxes
| Parcel Number | 13-5.0-22-001-001-007.000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $131,310 |
Property Taxes
Parcel Number
13-5.0-22-001-001-007.000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$131,310
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Lebanon Sundance Apartments | 1031 Ivey Ln
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