New 30-Unit Townhome Rental
For Sale
Contact for pricing
501 Pine Drive, Odessa, MO 64076
Street of 30 new townhomes offers in-unit laundry and attached garages with separate metering for streamlined utility management.
Property Size43,050 SF
Price / SF$156.52
Days on Market142
Property Features for 501 Pine Drive
General Information
Standard status
Active
Size
43,050 SF
Class
A
Total Parking Spaces
30
Property subtype
Multifamily
Zoning
R-2
Occupancy
97%
Investment Type
Stabilized
Net Operating Income
$489,738
Additional Details
Multifamily Units
30
Building Details
Year Built
2025
Buildings
8
Stories
2
Units
30
Tenancy
Multi
Listing Agency:
Lutz Sales + Investments
Listed By:
Michelle Lutz · License #2018036086
(913) 426-5576
Source:
Crexi
Added: Jun 3
Changed: Oct 17
Last Checked: Oct 20 at 6:38PM
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 Lutz Sales + Investments
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Investment Insights
Based on property information with market context.
Pine Creek offers a for-sale portfolio of 30 brand-new 3-bedroom, 2.5-bath two-story townhome units in Odessa, Missouri. The property is comprised of six fourplex buildings and two triplex buildings. Each unit includes stainless steel appliances, granite countertops, LVP flooring, an in-unit washer and dryer, and an attached 1-car garage with additional driveway parking. Units are all-electric and separately metered for utilities, including water and trash.
The buildings are individually parceled. The seller also owns adjacent lots that are available for potential future acquisition, providing flexibility for expansion over time. The community is presented as having no HOA.
For buyers and operators seeking a turnkey residential income property, Pine Creek is designed for straightforward management and tenant utility billing, supported by separately metered services across the units. With a third-party property management company currently in place and open to continuing if needed, ownership can be structured for day-to-day ease. The portfolio’s new construction provides an opportunity to acquire a fully modern rental housing asset with defined unit features and contemporary interior finishes throughout the townhome buildings.
The buildings are individually parceled. The seller also owns adjacent lots that are available for potential future acquisition, providing flexibility for expansion over time. The community is presented as having no HOA.
For buyers and operators seeking a turnkey residential income property, Pine Creek is designed for straightforward management and tenant utility billing, supported by separately metered services across the units. With a third-party property management company currently in place and open to continuing if needed, ownership can be structured for day-to-day ease. The portfolio’s new construction provides an opportunity to acquire a fully modern rental housing asset with defined unit features and contemporary interior finishes throughout the townhome buildings.
Key Highlights
- Street of 30 brand‑new 3 bed/2.5 bath, 2‑story townhome units built in 2025
- Unit mix: 6 fourplexes and 2 triplexes within the 30‑unit portfolio
- High‑end interiors include stainless steel appliances, granite countertops, and LVP flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$451,625
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,032,500
$9.0M
Cap Rate 7%
$6,451,786
$6.5M
Cap Rate 9%
$5,018,056
$5.0M
Market Conditions
NOI Build-Up for 43,050 SF
Gross rent
$878.2K $20.40/SF
− Vacancy
−$57.1K −$1.33/SF
EGI
$821.1K $19.07/SF
− OpEx
−$369.5K −$8.58/SF
NOI
$451.6K $10.49/SF
Area
Lafayette County, MO
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,032,500
Cap Rate 7%
$6,451,786
Cap Rate 9%
$5,018,056
Alternative Uses
Best Use
Apartment 5plus
$6.45M
$5.65M – $7.53M
NOI $451,625 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$9.51M
$8.32M – $11.10M
NOI $665,844 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
30
Residential units
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
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Business Placement
Demographics for 64076, MO
9,863
Population
3,752
Households
2.6
Avg Household Size
39
Median Age
23%
College-Educated
94%
High-School Grad
124.3 sq mi
ZIP Area
79
Density / Sq Mi
$81,058
Median Household Income
$43,002
Median Earnings
$961
Median Rent
$226,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Street of 30 new townhomes offers in-unit laundry and attached garages with separate metering for streamlined utility management.
Where is this apartment building located?
The property is located at 501 Pine Drive Odessa, MO.
What is the asking price?
The asking price for this property is $6,738,000.
What are key features of this property?
This property features: Street of 30 brand‑new 3 bed/2.5 bath, 2‑story townhome units built in 2025; Unit mix: 6 fourplexes and 2 triplexes within the 30‑unit portfolio; High‑end interiors include stainless steel appliances, granite countertops, and LVP flooring throughout
