3023 Aspen Drive, Cape Girardeau, MO 63701
Fully occupied 12-unit multifamily property with in-unit laundry in each spacious two-bedroom unit.
- Added:
- Jun 3, 2026
- Days on Market:
- 6
- Last Refresh:
- Jun 6 at 2:12 am
Property Features for 3023 Aspen Drive
General Information
- Standard status
- Active
- Size
- 11,832 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1985
Listing agent Jacob Fish License #2010013545
Listing office Edge Realty (573) 450-3791
Listing date Jun 3, 2026
Source Crexi
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 Edge Realty
HighLights
- 12‑unit multifamily property built in 1985
- Fully occupied with established rental income
- Units are spacious 2‑bedroom, 1.5‑bath layouts
- In‑unit laundry provided in each unit
Overview
The complex is positioned in a central, convenient location in Cape Girardeau, Missouri. The listing states the property is fully occupied, with established rental income.
For investors and buyers seeking a turn-key residential income asset, the fully occupied status and in-unit laundry feature may support tenant appeal and day-to-day operational simplicity. The property also presents an avenue for additional improvement opportunities as referenced in the marketing remarks, allowing an owner to consider value-oriented management after acquisition.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $170.4k | $14.40 |
| − Vacancy | −$11.9k | −$1.01 |
| EGI | $158.5k | $13.39 |
| − OpEx | −$71.3k | −$6.03 |
| NOI | $87.1k | $7.37 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Cape Girardeau
- County
- Cape Girardeau
- State
- Missouri
- Longitude
- -89.5694996
- Latitude
- 37.3129802
