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About the Listing MAGN01 - ANDBURTT
Excellent opportunity to acquire a high-occupancy 12-unit apartment complex with 12 additional on-site storage units in the rapidly growing Troy, Missouri market. Offered at $1,150,000, this stabilized investment features a mix of one-bedroom and two-bedroom apartments along with twelve storage units, providing diversified income and long-term upside. Current gross rental income is $10,355 per month with market rent potential estimated at approximately $10,900 per month. Annual NOI is approximately $81,595, reflecting a 7.1% cap rate at the asking price. Most apartment units have already been renovated, minimizing immediate capital expenditures while leaving additional value-add potential through future rent increases and storage income optimization. Investment Highlights: • 12 Apartment Units • 12 On-Site Storage Units • High Occupancy • Mix of 1-Bedroom & 2-Bedroom Units • Most Units Renovated • Current Gross Monthly Rent: $10,355 • Estimated Market Rent: $10,900+/Month • Annual NOI: Approximately $81,595 • 7.1% Cap Rate at Asking Price • Strong Workforce Housing Demand • Limited Competing Apartment Inventory • Located in One of Lincoln County's Fastest-Growing Markets Current rent roll, T-12 financials, and additional income/expense information are available upon request. Property is being offered subject to interior inspection. To minimize disruption to tenants, interior showings will be scheduled following an accepted contract.
Listing Highlights
Status
Active
Days on Site
1
Property Type
Multi-Family
MLS ®
26046395
Year Built
1983
Total Square Footage
9,630
Lot/Acreage
0.41
County
Lincoln
Neighborhood
Browns Add
Area
458 - Troy R-3
School District
Troy R-III
Elementary School
Main Street Elem.
Middle School
Troy Middle
High School
Troy Buchanan High
Interior Details
- Bedrooms: 2
- Bathrooms: 1 Full
- Appliances:
- Air Cond: Wall Unit(s)
- Heating: Baseboard
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $4,866
- Taxes w/Assessments: N/A
- Tax/Property ID: 157026004014004000
- Tax Year: 2025
Payment Calculator
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Questions About..
560 E Cherry St Troy, MO 63379
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