Log In/Sign Up
Your email has been sent.
Cumberland Hill Apartments 806 N Cumberland St 27 Unit Apartment Building $2,799,000 ($103,667/Unit) 6.45% Cap Rate Lebanon, TN 37087
INVESTMENT HIGHLIGHTS
- Leased below Market Rate
- Value Add Opportunity
- Great Location North of Lebanon Square
EXECUTIVE SUMMARY
Tremendous opportunity in this value add property. All units have been recently renovated, rented well below market rates. Opportunity to convert onside office into an additional 1 bedroom unit. Laundry facility could be utilized for additional income. Lebanon, TN is one of the fastest growing cities in the United States.
Assumable 3.37% loan.
Assumable 3.37% loan.
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$265,200
|
$10.13
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$265,200
|
$10.13
|
| Taxes |
$7,699
|
$0.29
|
| Operating Expenses |
$77,066
|
$2.94
|
| Total Expenses |
$84,765
|
$3.24
|
| Net Operating Income |
$180,435
|
$6.89
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $265,200 |
| Annual Per SF | $10.13 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $265,200 |
| Annual Per SF | $10.13 |
| Taxes | |
|---|---|
| Annual | $7,699 |
| Annual Per SF | $0.29 |
| Operating Expenses | |
|---|---|
| Annual | $77,066 |
| Annual Per SF | $2.94 |
| Total Expenses | |
|---|---|
| Annual | $84,765 |
| Annual Per SF | $3.24 |
| Net Operating Income | |
|---|---|
| Annual | $180,435 |
| Annual Per SF | $6.89 |
PROPERTY FACTS Under Contract
| Price | $2,799,000 | Building Class | C |
| Price Per Unit | $103,667 | Lot Size | 1.28 AC |
| Sale Type | Investment | Building Size | 26,172 SF |
| Cap Rate | 6.45% | Average Occupancy | 100% |
| No. Units | 27 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1966/2020 |
| Property Subtype | Apartment | Parking Ratio | 1.72/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CG - Commercial General | ||
| Price | $2,799,000 |
| Price Per Unit | $103,667 |
| Sale Type | Investment |
| Cap Rate | 6.45% |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.28 AC |
| Building Size | 26,172 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1966/2020 |
| Parking Ratio | 1.72/1,000 SF |
| Zoning | CG - Commercial General |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
SITE AMENITIES
- Laundry Facilities
- Cabana
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 18 | $800.00 | 742 |
| 2+1 | 10 | $850.00 | 1,063 |
1 1
PROPERTY TAXES
| Parcel Number | 058L-H-009.00 | Total Assessment | $266,240 |
| Land Assessment | $71,040 | Annual Taxes | $7,699 ($0.29/SF) |
| Improvements Assessment | $195,200 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
058L-H-009.00
Land Assessment
$71,040
Improvements Assessment
$195,200
Total Assessment
$266,240
Annual Taxes
$7,699 ($0.29/SF)
Tax Year
2024
1 of 9
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Cumberland Hill Apartments | 806 N Cumberland St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.