117 Cedarwood Dr - Apartments FOR SALE


Lebanon, TN 37087- Downtown Lebanon
$6,000,000 USD
615-973-5373
117 Cedarwood Dr, Lebanon, TN for Sale
$6,000,000 USD
Apartments - FOR SALE
1/65
null | 5.98% Cap Rate

117 Cedarwood Dr
Lebanon, TN 37087
Downtown Lebanon


HIGHLIGHTS

  • $585,000 spent on capital improvements with the last 18 months
  • Rents are currently $113 below the market rate, offering immediate value-add potential
  • 16 of 40 units have been renovated, allowing the opportunity to capitalize on proven rent premiums
  • Community amenities include a dog park, picnic area, and grill

OVERVIEW

Link to the Deal Room & Financials: https://www.marcusmillichap.com/properties/183951/the-reserve-at-lebanon Marcus & Millichap has been selected to exclusively market for sale The Reserve at Lebanon in Lebanon, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in the Nashville, TN MSA. Located just 30 miles from downtown Nashville in Lebanon, TN, The Reserve offers a strong unit mix of 1-bed/1-bath and 2-bed/1.5-bath floorplans, with 16 units already renovated—providing a clear path to increase income through proven renovation premiums. Current rents are approximately $113 below market, offering immediate upside. Over the past 18 months, $585,000 has been invested in capital improvements including new windows, unit renovations, exterior painting, lighting upgrades, signage, repaving, and landscaping. All units are individually metered for water and electricity and include washer/ dryer connections, minimizing owner expenses. The Reserve presents a compelling opportunity for investors seeking both near-term gains and long-term stability. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. AT NO POINT SHOULD TENANTS OR STAFF BE CONTACTED REGARDING THE SALE OF THE RESERVE AT LEBANON.

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/SF

$154 USD /SF

# OF UNITS

40

PRICE/UNIT

$150,000

CAP RATE

5.98%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Reserve at Lebanon

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

120

LAND DETAILS

LAND ACRES

3.33 AC

LAND SF

145,055 SF

ZONING

None

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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