521 Walnut St Hannibal, MO 63401

Property Details for 521 Walnut St

Year built

1875

Property size

1,400 SF

Property type

Commercial real estate

APN

010.08.28.3.24.006.000

Description

This charming two-unit apartment building, located at 521 Walnut St in Hannibal, Missouri, presents a compelling investment opportunity. Built in 1875 and situated on a 5,881 square foot lot, this property boasts a total of 1,400 square feet of net rentable space. The building features two distinct units: a fully furnished efficiency unit renting for $1,150 per month with a front patio, and a two-bedroom, two-bathroom unit renting for $1,415 per month, complete with a balcony and deck. Each unit is separately metered for utilities and includes its own HVAC and laundry facilities. The property has undergone complete interior and exterior updates, making it a truly turnkey investment. Currently, the units are fully furnished and generate a potential gross annual rental income of $30,480. After accounting for estimated expenses (insurance, taxes, and utilities) totaling $8,850, the net operating income (NOI) is $21,630. This property is ideally located near downtown Hannibal and offers significant potential for short-term or long-term rentals, or even the possibility of owner-occupancy. The asking price is $189,000. The property's APN is 010.08.28.3.24.006.000. This is a two-story building.

Location Insight

City

Hannibal

County

Marion

State

Missouri

Longitude

-91.352489529515

Latitude

39.703451445434