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117 CEDARWOOD DR
LEBANON, TN 37087
Asking Price
$5.72M
Cap Rate
6.08%
Asset Type
Apartment Building Multifamily
Class
Class B
What's Special
40-Unit Value-Add Investment Opportunity in Lebanon, TN <ul><li>40-unit apartment community built in 1970 offering a mix of 1 bed/1 bath and 2 bed/1.5 bath units</li><li>$585,000 spent on capital improvements over the last 36 months. Improvements include new windows, unit renovations, exterior painting, exterior lighting upgrades, new signage, repaving, and landscaping</li><li>More than 70% of the HVAC units have been replaced in the past 3 years</li><li>The roof was replaced in 2018</li><li>Rents are currently $145 below the market rate, offer
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NOI
$80,000
Cap Rate
1.40%
DSCR
0.24
Underwater
Cash-on-Cash
-15.13%
Monthly Payment
$28,324.176
Annual Cash Flow
$-259,890.116
