12-Unit Apartment
For Sale
$1,150,000
560 E Cherry St, Troy, MO 63379
Mostly renovated one- and two-bedroom apartments with 12 on-site storage units in Troy, Missouri.
Property Size9,630 SF
Price / SF$119.42
Days on Market13
Property Features for 560 E Cherry St
General Information
Standard status
Active
Size
9,630 SF
Property subtype
Residential Income
Net Operating Income
$81,595
Financials
Asking Price
$1,150,000
Cap Rate
7.1%
Gross Income
$124,260
Additional Details
Multifamily Units
12
Listing Agency:
Magnolia Real Estate
(636) 544-1159
Listed By:
Andrew Burtt
(636) 544-1159
Source:
Exprealty
Added: Jul 20
Changed: Jul 30
Last Checked: Jul 31 at 6:11PM
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 Magnolia Real Estate
Investment Insights
Based on property information with market context.
Located at 560 E Cherry St in Troy, MO, this 12-unit apartment complex totals 9,630 SF and includes 12 additional on-site storage units. The apartment mix features one-bedroom and two-bedroom residences, and most apartment units have already been renovated, helping minimize immediate capital expenditures while preserving opportunities to improve returns over time.
The property is presented as a stabilized investment. The current cap rate is 7.1%, reflecting the property’s existing performance. Interior inspections are available subject to scheduling, with showings planned after an accepted contract to minimize disruption to tenants.
For additional underwriting details, including current rent roll and T-12 financials, information is available upon request.
The property is presented as a stabilized investment. The current cap rate is 7.1%, reflecting the property’s existing performance. Interior inspections are available subject to scheduling, with showings planned after an accepted contract to minimize disruption to tenants.
For additional underwriting details, including current rent roll and T-12 financials, information is available upon request.
Key Highlights
- 12 apartment units in a 9,630 SF complex
- 12 on‑site storage units included
- Mix of one‑bedroom and two‑bedroom apartments
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 | $173.3k | $18.00 |
| − Vacancy | −$9.5k | −$0.99 |
| EGI | $163.8k | $17.01 |
| − OpEx | −$73.7k | −$7.65 |
| NOI | $90.1k | $9.36 |
9,630 SF · lease $18.00/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.50M
NOI $90,093 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.38M
$2.08M – $2.78M
NOI $166,709 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Explore this area
Business Placement
Demographics for 63379, MO
26,583
Population
10,464
Households
2.5
Avg Household Size
38
Median Age
21%
College-Educated
94%
High-School Grad
135.9 sq mi
ZIP Area
196
Density / Sq Mi
$86,844
Median Household Income
$47,088
Median Earnings
$976
Median Rent
$238,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Mostly renovated one- and two-bedroom apartments with 12 on-site storage units in Troy, Missouri.
Where is this apartment building located?
The property is located at 560 E Cherry St Troy, MO.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 12 apartment units in a 9,630 SF complex; 12 on‑site storage units included; Mix of one‑bedroom and two‑bedroom apartments
