1031 Ivey Ln - Apartments FOR SALE


Lebanon, MO 65536
$2,550,000 USD
417-459-2155
1031 Ivey Ln, Lebanon, MO for Sale
$2,550,000 USD
Apartments - FOR SALE
1/17
null | 5.94% Cap Rate

1031 Ivey Ln
Lebanon, MO 65536


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).
  • Sundance Apartments is well-equipped with amenities such as a children’s playground, sand volleyball court, BBQ gazebo, dog station, & green space.
  • 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.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,550,000 USD

PRICE/SF

$75 USD /SF

# OF UNITS

40

PRICE/UNIT

$63,750

CAP RATE

5.94%

% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lebanon Sundance Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1999

PARKING SPACES

50

LAND DETAILS

LAND ACRES

4.46 AC

LAND SF

194,453 SF

ZONING

Multi-Family

APN/PARCEL ID

13-5.0-22-001-001-007.000

ASK ABOUT THIS PROPERTY

Lee WagnerCushman & WakefieldMore Info
417-459-2155

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Lee WagnerCushman & WakefieldMore Info
417-459-2155

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.