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281 Beaumont Highway, Lebanon, CT 06249 Village Hill Apartments

$1,325,000 $110,417.00 / unit
281 Beaumont Highway, Lebanon, CT 06249

For Sale Details

$1,325,000
$110,417.00 / unit
  • Property Type Multifamily
  • Sale Type Investment
  • Status Closed
  • Created 01/25/21
  • Updated 06/30/21
  • Closed On 06/22/21
  • Closing Price $1,235,000

About 281 Beaumont Highway, Lebanon, CT 06249

Northeast Private Client Group is pleased to present Village Hill Apartments, a 12-unit multifamily property located in Lebanon, Connecticut. Village Hill Apartments is comprised of twelve (12) - two-bedroom apartments. The landlord is responsible for the heat and hot water which is supplied through a central oil-fired system. Tenants are responsible for their own electric expense. The property features ample off-street parking, an on-site laundromat, and DirecTV satellite service. Over the last several years the owner has made numerous capital improvements including, but not limited to, the roof, windows, and parking lot and has renovated most of the units. A new owner can realize upside potential through increasing rents to market levels. Loan to be assumed - Fannie Mae Non-Recourse - 4.76% / 30-year amortization, 8 years left (October 2018 Origination) 1% Loan Assumption Fee


Building Details

  • Building Area (SF): 11,000
  • Year Built: 1965
  • Number of Units: 12

Land Details

  • Acreage: 8.40

Financial Characteristics

  • Potential Gross Income: $156,544
  • Net Operating Income: $93,670
  • Cap Rate: 7%

The Multifamily property at 281 Beaumont Highway, Lebanon, CT 06249 is currently available for sale. Contact Northeast Private Client Group from Northeast Private Client Group for more information.