560 E Cherry StreetTroy, MO 63379

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.

Property Information

Property type

Residential Income

Sub-type

Multi Family

Style

Apartment Style

Year built

1983

Living area

9,630 Sq Ft

Lot size

0.41 acres

Days on market

77

MLS^® Listing#

26046395

Property Features

Cooling

Wall Unit(s)

Heating

Baseboard

Construction

Brick

Schools

Elementary

Main Street Elem.

Middle

Troy Middle

High

Troy Buchanan High

Financial Details

HOA

None

Annual taxes

$4,866Tax year 2025

Parcel number

157026004014004000