75
See all 75 photos
$1,150,000
Est. payment /mo
9,630 SqFt
Active
560 E Cherry ST Troy, MO 63379
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Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Active
Purchase Type For Sale
Square Footage 9,630 sqft
Price per Sqft $119
Subdivision Browns Add
MLS Listing ID 26046395
Style Apartment Style
Year Built 1983
Annual Tax Amount $4,866
Lot Size 0.413 Acres
Acres 0.413
Property Sub-Type 5 Family or More
Property Description
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.
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.
Location
State MO
County Lincoln
Area 458 - Troy R-3
Interior
Heating Baseboard
Cooling Wall Unit(s)
Fireplace N
Exterior
Parking Features false
View Y/N No
Private Pool false
Building
Structure Type Brick
Schools
Elementary Schools Main Street Elem.
Middle Schools Troy Middle
High Schools Troy Buchanan High
School District Troy R-Iii
Others
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Special Listing Condition Standard
Listed by Andrew Burtt • Magnolia Real Estate
Nearby Locations
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