Address Not Available from Listing Broker
Lebanon, MO 65536

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.