Fountain Ln Kimberling City, MO 65686

Property Details for 0 Fountain Ln

Property type

Residential income homes

Description

This exceptional multifamily investment opportunity, Table Rock Village, presents a portfolio of 48 single-family rental units in Kimberling City, Missouri (zip code 65686, Stone County). The property comprises 12 three-bedroom duplexes and 6 fourplex (villa) units, situated on a desirable location. Currently boasting 65% occupancy as of late October 2023, the property offers significant upside potential for increased rental income. The property features its own water well, tower, supply, and treatment system, along with municipal sewer access. Average monthly expenses for oversight and utilities total approximately $1,500. The current Net Operating Income (NOI) is $144,308, yielding a 1.89% cap rate based on income through October 2023. A significant potential revenue stream exists with a separate 6-acre parcel currently zoned for a nursing care facility, which has a lease option for a minimum monthly payment of $25,000 triple net to the owner/purchaser. This lease option, with an 8.5% interest rate on the balance, includes a potential purchase price of $2,750,000. The asking price for the entire property is $7,620,000, and it is offered as a 1031 exchange opportunity. At 100% occupancy, the gross potential monthly income is $48,000 (excluding the care facility). The care facility, if deemed functionally obsolete, could be demolished for an estimated cost of $250,000. The property benefits from a favorable location near Table Rock Lake and Branson, Missouri, offering a mild climate and abundant job opportunities. No rent caps are in place, and most residential leases are 12-month agreements.

Location Insight

City

Kimberling City

County

Stone

State

Missouri

Longitude

-93.4477

Latitude

36.6413