New Complex in West Plains, MO
515 Nebraska Avenue : West Plains, MO 65775
Howell County, Missouri
Shown by Appointment Only
Property Description
For Sale - Income-Producing Multi-Unit Property in West Plains, Mo.
Prime Investment Opportunity in Howell County
Discover a brand-new multi-family investment property at 515 Nebraska Street, West Plains, MO. This former church has been fully converted into eight modern apartments, offering high-quality finishes, excellent location, and strong income potential.
Property Features (Largest to Smallest Units):
One (1) unit - 850 sq. ft. | 2 Bed / 2 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
Four (4) units - 600 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
Two (2) units - 550 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
One (1) unit - 450 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck
Spacious parking lot and outdoor green space
Situated on a.48-Acre lot in a quiet neighborhood
Prime Location - High Rental Demand.
Property Highlights:
• Fully remodeled 7-unit apartment complex - turnkey and like new
• Strong income producer with estimated 9.5%Cap rate
• Units include one 2-bed unit ($1,200/Month), four 1-bed units ($1,000/Month), and one small unit ($959/Month)
• Seventh unit is an active Airbnb generating approximately $21,900/Year at $80-$125/Night
• Gross annual rental income: approximately $95,800
• Net Operating Income (Noi): approximately $76,000
• All units include appliances
• Owner pays utilities and property taxes
• Includes Airbnb management potential or option to convert to long-term rental
• Excellent investment opportunity with low maintenance and high demand rental units
• Priced at $799,900 - potential for upside depending on rental mix
Located in West Plains, Missouri, this property is just minutes from:
Missouri State University - West Plains
Downtown West Plains
Ozarks Healthcare
Restaurants, shopping, and essential amenities
Turnkey Investment - Strong ROI Potential
New Construction - Modern Features
Fully Income-Producing or Investment Opportunity
Annual Property Tax: $2,000
Annual Insurance: $2,000
Each unit has separate electric, water, and internet connections
This multi-family property for sale in Howell County, Missouri, is an excellent addition to any real estate portfolio. Whether you're looking for a turnkey rental investment or an income-generating property, this one checks all the boxes.
Call today to schedule a showing or for more details.
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