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Cumberland Hill Apartments 806 N Cumberland St 27 Unit Apartment Building $3,891,366 CAD ($144,125 CAD/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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$368,700
|
$18.34
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$368,700
|
$18.34
|
| Taxes |
$10,704
|
$0.53
|
| Operating Expenses |
$107,143
|
$5.33
|
| Total Expenses |
$117,846
|
$5.86
|
| Net Operating Income |
$250,853
|
$12.48
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $368,700 |
| Annual Per SF | $18.34 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $368,700 |
| Annual Per SF | $18.34 |
| Taxes (CAD) | |
|---|---|
| Annual | $10,704 |
| Annual Per SF | $0.53 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $107,143 |
| Annual Per SF | $5.33 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $117,846 |
| Annual Per SF | $5.86 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $250,853 |
| Annual Per SF | $12.48 |
Property Facts Under Contract
| Price | $3,891,366 CAD | Building Class | C |
| Price Per Unit | $144,125 CAD | Lot Size | 1.28 AC |
| Sale Type | Investment | Building Size | 20,104 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 - 08 - Commercial Multi Family | ||
| Price | $3,891,366 CAD |
| Price Per Unit | $144,125 CAD |
| 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 | 20,104 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1966/2020 |
| Parking Ratio | 1.72/1,000 SF |
| Zoning | CG - 08 - Commercial Multi Family |
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 | $1,112 CAD | 742 |
| 2+1 | 10 | $1,182 CAD | 1,063 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 058L-H-009.00 | Total Assessment | $370,145 CAD (2025) |
| Land Assessment | $98,765 CAD (2025) | Annual Taxes | $10,704 CAD ($0.53 CAD/SF) |
| Improvements Assessment | $271,381 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
058L-H-009.00
Land Assessment
$98,765 CAD (2025)
Improvements Assessment
$271,381 CAD (2025)
Total Assessment
$370,145 CAD (2025)
Annual Taxes
$10,704 CAD ($0.53 CAD/SF)
Tax Year
2024
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Cumberland Hill Apartments | 806 N Cumberland St
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