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515 Nebraska Avenue West Plains, MO 65775

  • 4,800 sqft
  • 0.50 acres
$799,900
  • MLS#60288890
  • Active

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 / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck • Five (5) units - 600 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 an 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 ($900/month) • Seventh unit is an active Airbnb generating approximately $21,900/year at $100/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!

Listing Information
  • Foreclosure/Short Sale: No
  • List Price/SqFt: $166.65
  • Transaction Type: Sale
Building Information
  • Year Built: 1972
Location/Region
  • County Or Parish: Howell
  • Subdivision Name: Howell-Not in List
Tax Information
  • Inside City Limits: Yes
  • Tax Annual Amount: $0.00
General Information
  • Construction Status: Existing
  • Land Included: true
  • Parcel Number: 15402000040100201000
  • Property Sub Type: Other
  • Property Type: Commercial Sale
  • Zoning: Multi-family
Building Information
  • SqFt: Vacant: 4800.0
Parking Information
  • Garage: No
Beds/Baths
  • Bathrooms Total: 9
Building Interior
  • Building Area Total: 4800.0
General Information
  • Miscellaneous: Basement: Yes
  • Miscellaneous: Handicap Accessible: Yes
  • Miscellaneous: Smoke Detectors: Yes
  • Miscellaneous: Water Heater-Electric: Yes
Parking Information
  • Parking Features: 20+ Spaces,Paved
  • Parking: 20+ Spaces: Yes
  • Parking: Paved: Yes
Lot Information
  • Lot Size Acres: 0.5
  • Lot Size Area: 0.5
  • Lot Size Square Feet: 21780.0
  • Lot Size Units: Acres
Waterfront/View
  • General Property Description: Lake/River: None
  • View: City
  • Water Body Name: None
  • Waterfront View: None
  • Waterfront: No
Building Exterior/Construction
  • Attached Garage: No
General Information
  • Curb Cuts: Available Two: Yes
  • Number Of Units Total: 8
  • Utilities: High Speed Internet Access,Public Sewer,Public Water
  • Utilities Available: Electric: Yes
  • Utilities Available: High Speed Internet Access3: Yes
  • Utilities Available: Public Sewer: Yes
  • Utilities Available: Public Water: Yes

Life at 515 Nebraska Avenue

Schools

School data courtesy of LiveBy, Inc. Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

Owning this Home

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*Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.