Income-Producing Multi-Unit
515 Nebraska Avenue West Plains, MO 65775
For Sale
$799,900
Fully remodeled 7-unit apartment complex in West Plains, Missouri.
Lot Size0.50 Acres
Days on Market499
Property Features for 515 Nebraska Avenue
General Information
Standard status
Active
Lot size
0.50 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1972
Listing Agency:
United Country Missouri Ozarks Realty Inc.
(417) 293-7277
Listed By:
Kimberly Grennan · License #2006013557
(417) 293-7277
Source:
Exitrealty
Added: Mar 17, 2025
Changed: Jul 6
Last Checked: Jul 26 at 6:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of United Country Missouri Ozarks Realty Inc.
Investment Insights
Based on property information with market context.
Located in West Plains, Missouri, this income-producing multi-unit property presents a prime investment opportunity. The former church has been fully converted into seven modern apartments with high-quality finishes. The units feature an open concept design, luxury vinyl flooring, and quartz countertops. One unit offers 850 sq. ft. with 2 beds and 1 bath, and a private deck. Five units provide 600 sq. ft. with 1 bed and 1 bath, and a private deck. One unit offers 450 sq. ft. with 1 bed and 1 bath. The property includes a spacious parking lot and outdoor green space, situated on a 0.48-acre lot in a quiet neighborhood. The property is located minutes from Missouri State University - West Plains, Downtown West Plains, Ozarks Healthcare, restaurants, shopping, and essential amenities. The property is a strong income producer with an estimated 9.5% cap rate. The units include one 2-bed unit, four 1-bed units, and one small unit. One unit is an active Airbnb. All units include appliances. The owner pays utilities and property taxes. The property includes Airbnb management potential or the option to convert to long-term rental. This is an excellent investment opportunity with low maintenance and high-demand rental units.
Key Highlights
- Strong income producer with an estimated 9.5% cap rate and gross annual rental income of approximately $95,800.
- Fully remodeled 7‑unit apartment complex - turnkey and like new, offering low maintenance and high‑demand rental units.
- Modern apartments featuring open concept layouts, luxury vinyl flooring, quartz countertops, and private decks.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Fully remodeled 7-unit apartment complex in West Plains, Missouri.
Where is this apartment building located?
The property is located at 515 Nebraska Avenue West Plains, MO.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Strong income producer with an estimated 9.5% cap rate and gross annual rental income of approximately $95,800.; Fully remodeled 7‑unit apartment complex - turnkey and like new, offering low maintenance and high‑demand rental units.; Modern apartments featuring **open concept layouts, luxury vinyl flooring, quartz countertops, and private decks.**
