Income-Producing Multi-Unit
515 Nebraska Avenue, West Plains, MO 65775
Fully remodeled 7-unit apartment complex in West Plains, Missouri.
Type:Commercial/Industrial
Lot size:
0.50 Acres- Added:
- Mar 24, 2026
- Days on Market:
- 55
- Last Refresh:
- Apr 5 at 11:04 pm
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 agent Kimberly Grennan License #2006013557
Listing office United Country Missouri Ozarks Realty Inc. (417) 256-1000
Listing date Mar 24, 2026
Source Exitrealty
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.
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.
- Prime location in West Plains, MO, close to Missouri State University, downtown, Ozarks Healthcare, and other amenities.
- Includes an active Airbnb unit generating approximately $21,900/year, with management potential or conversion to long‑term rental.
- Spacious parking lot and outdoor green space on a .48‑acre lot in a quiet neighborhood.
Overview
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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Short term rental ...
Location Insight
- Map
- Local Demand
- City
- West Plains
- County
- Howell
- State
- Missouri
- Longitude
- -91.861314
- Latitude
- 36.732715
Nearby Similar for Sale
FAQs
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.**
