Todd Keith

Five Stream Ventures LLC
972-836-7705

Now available! Purchase this 4 Unit Apartment Building for $58k in Lebanon, Indiana. Hot Neighborhood.  New electrical throughout and Separately Metered. All New Water Heaters. Average property price in this neighborhood is $133K. Tired landlord. This one won't last long!  

Address: 117 West Noble Street, Lebanon, Indiana 46052 (Click Here For Map)

Units: 4

Unit Mix: Two 3 Bedroom / 1 Bath Units; One Efficiency / 1 Bath Unit and One 1 Bedroom / 1 Bath Units

Current Rents: Currently 25% Occupied  

Market Rents: $527 – $629/Unit

Square Footage: 4,270 sqft

Annual Tax: $1,400

Occupancy: 25% 

Year Built: 1950

Utilities: Owner pays for water and sewer while tenants pay for electricity and gas. (Separate Electric Meters)

Management: Currently self managed, but excellent local property management company ready to step in and manage this one for the next owner. 

Actual CAP: 3.31% (Due 75% vacancy rate) 

Pro Forma CAP: 33.42% (5% Vacancy & Taxes, Insurance, Water, Sewer and 10% Prop Management included assumed) 

Price: $58,000 (Cash, Hard Money, or Private Money)