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Mitchell Cain

appraiser2002@gmail.com +1(618) 292-7227

$1,700,000

Est. payment - /mo

24 Beds

24 Baths

17,028 SqFt

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UPDATED:

Key Details

Property Type Townhouse

Sub Type Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 17,028 sqft

Price per Sqft $99

Subdivision City

MLS Listing ID 26024251

Style Apartment Style

Bedrooms 24

Full Baths 24

Year Built 1982

Lot Size 2.200 Acres

Acres 2.2

Property Sub-Type Townhouse

Property Description

Investors take note! This 24 unit apartment complex has the potential to generate $23,276 monthly or $279,312 annually. There is a one bedroom unit being used as an onsite office. This for profit HUD complex offers nice, low maintenance exterior buildings, paved parking for tenants, all in a quiet and flourishing southeast Missouri town where units stay rented! The current manager has a waiting list so vacancies that cut into profits are minimal unless maintenance to the unit requires vacancy! With an onsite manager and management company willing to stay with the purchase, sit back and let the investment pay for itself. This complex generates enough income for the buyer to recoup their investment and still draw profit! There is a rent increase approved for October 1 of this year. The following amounts are current as of date, they will go up based on the amount approved in October.
The complex is comprised of the following:
8-1 bedrooms units that gross $829 each
12-2 bedroom units that gross $985 each
4-3 bedroom units that gross $1,206 each
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Location

State MO

County Ripley

Rooms

Main Level Bedrooms 24

Interior

Heating Baseboard

Cooling Wall Unit(s)

Fireplace N

Exterior

Parking Features false

Utilities Available Cable Available, Electricity Connected, Phone Available, Sewer Connected, Water Connected

View Y/N No

Building

Lot Description City Lot, Few Trees, Sloped

Story 1

Sewer Public Sewer

Water Public

Level or Stories One

Structure Type Brick

Schools

Elementary Schools Doniphan Elem.

Middle Schools Doniphan Middle

High Schools Doniphan High

School District Doniphan R-I

Others

Acceptable Financing Cash, Conventional, USDA

Listing Terms Cash, Conventional, USDA

Special Listing Condition Standard

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Listed by Tim Hollinger • Collins & Associates

Nearby School & Business

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Mitchell Cain

+1(618) 292-7227

Broker | License ID: 475.180028

Broker License ID: 475.180028

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1020 E Washington Doniphan, MO 63935

Mitchell Cain

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby School & Business

Get More Information