560 E Cherry St

Troy MO 63379

9630 sq. ft.

17990.28 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

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.