24-Unit Multifamily
For Sale
$2,550,000
818 Wix Lane, Butler, MO 64730
Ten duplexes, a triplex and a single-family home make up a rental grouping across two streets in Butler.
Property Size15,000 SF
Price / SF$170
Days on Market114
Property Features for 818 Wix Lane
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Residential Income / Package of Properties
Zoning
RES
Net Operating Income
$211,577
Financials
Asking Price
$2,650,000
Cap Rate
8%
Gross Income
$260,220
Additional Details
Multifamily Units
24
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,750
Amenities
Electric
Natural Gas
2 Bedroom, 3 Bedroom
Dishwasher, Disposal, Microwave, Refrigerator, Electric Range
No
1
Yes
Composition
Close Of Escrow
Inside, Utility Room
Private Entrance
Paved
Public Maintenance
Deck
Building Details
Year Built
1973
Buildings
12
Listing Agency:
Platinum Realty LLC
Listed By:
Justin Beebe · License #2014025113
(816) 716-8364
Source:
Compass
Added: Jul 16
Changed: Nov 1
Last Checked: Nov 4 at 3:01PM
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 Platinum Realty LLC
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Investment Insights
Based on property information with market context.
This 24-unit multifamily portfolio in Butler, Missouri, includes 10 duplex buildings, one triplex and one single-family residence. Twenty units are on Wix Lane, with four more on High Street. Recent improvements include replacement siding and gutters across the buildings, interior renovations, approximately 13 new HVAC systems and new water heaters in most units. Several properties have been renovated to the studs; four units have not received the same level of renovation. The portfolio is zoned RES and reports an 8 percent cap rate.
Nearby destinations include Butler Municipal Park, the Butler Aquatic Center, Bates County Memorial Hospital and other local medical services. The 24-unit portfolio may also be combined with six separately listed duplexes to form a 36-unit package.
Nearby destinations include Butler Municipal Park, the Butler Aquatic Center, Bates County Memorial Hospital and other local medical services. The 24-unit portfolio may also be combined with six separately listed duplexes to form a 36-unit package.
Key Highlights
- 24 units across 10 duplex buildings, one triplex and one single‑family residence
- Twenty units on Wix Lane; four additional units on High Street
- Approximately 13 new HVAC systems; new water heaters in most units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$171,427
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,428,540
$3.4M
Cap Rate 7%
$2,448,957
$2.4M
Cap Rate 9%
$1,904,744
$1.9M
Market Conditions
NOI Build-Up for 15,000 SF
Gross rent
$261.0K $17.40/SF
− Vacancy
−$16.1K −$1.07/SF
EGI
$244.9K $16.33/SF
− OpEx
−$73.5K −$4.90/SF
NOI
$171.4K $11.43/SF
Area
Bates County, MO
Vacancy
6.17%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,428,540
Cap Rate 7%
$2,448,957
Cap Rate 9%
$1,904,744
Alternative Uses
Best Use
Multifamily LT 5
$2.45M
$2.14M – $2.86M
NOI $171,427 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$2.25M
$1.97M – $2.62M
NOI $157,361 @ 7.0% cap · market cap 6.17%
Theoretical Best
Retail
$3.31M
$2.90M – $3.87M
NOI $232,001 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
Explore this area
Business Placement
Demographics for 64730, MO
6,803
Population
2,986
Households
2.3
Avg Household Size
42
Median Age
17%
College-Educated
91%
High-School Grad
282.3 sq mi
ZIP Area
24
Density / Sq Mi
$46,121
Median Household Income
$35,605
Median Earnings
$772
Median Rent
$170,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Ten duplexes, a triplex and a single-family home make up a rental grouping across two streets in Butler.
Where is this multifamily property located?
The property is located at 818 Wix Lane Butler, MO.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: 24 units across 10 duplex buildings, one triplex and one single‑family residence; Twenty units on Wix Lane; four additional units on High Street; Approximately 13 new HVAC systems; new water heaters in most units
