Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Basement YN

    NO

  • Cooling YN

    NO

  • Cooling

    None

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Other

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    9.523

  • Lot Size(square feet)

    414,822

  • Property Type

    Residential Income

  • Property Sub Type

    Multi Family

Price

  • Sales Price

    $1,285,605

  • Tax Amount

    $26

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    Main Street Elem.

  • Middle School

    Troy Middle

  • High School

    Troy Buchanan High

Property Features

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

County

Lincoln

Elementary School

Main Street Elem.

Middle School

Troy Middle

High School

Troy Buchanan High

Listing Courtesy of Cortney Lenk , Crouse REALTORS Inc

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Franko Maric

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9.523 acres in the city limits of Troy! Zoned R3PD. This is a developer's dream! Perfect location for multi-family units with city utilities.  Property is in a convenient location off South 3rd Street, close to local shopping and actually joins Troy City Park.  Never offered for sale in your lifetime, as property has been owned by the same family for well over 100 years! $135,000/acre

0 S 3rd Street

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Related Properties

New on site 2 days ago
Excellent opportunity to acquire a high-occupancy 12-unit apartment complex with 12 additional on-site storage units in the rapidly growing Troy, Missouri market. Offered at $1,150,000, this stabilized investment features a mix of one-bedroom and two-bedroom apartments along with twelve storage units, providing diversified income and long-term upside.

Current gross rental income is $10,355 per month with market rent potential estimated at approximately $10,900 per month. Annual NOI is approximately $81,595, reflecting a 7.1% cap rate at the asking price. Most apartment units have already been renovated, minimizing immediate capital expenditures while leaving additional value-add potential through future rent increases and storage income optimization.

Investment Highlights:
• 12 Apartment Units
• 12 On-Site Storage Units
• High Occupancy
• Mix of 1-Bedroom & 2-Bedroom Units
• Most Units Renovated
• Current Gross Monthly Rent: $10,355
• Estimated Market Rent: $10,900+/Month
• Annual NOI: Approximately $81,595
• 7.1% Cap Rate at Asking Price
• Strong Workforce Housing Demand
• Limited Competing Apartment Inventory
• Located in One of Lincoln County's Fastest-Growing Markets

Current rent roll, T-12 financials, and additional income/expense information are available upon request. Property is being offered subject to interior inspection. To minimize disruption to tenants, interior showings will be scheduled following an accepted contract.
#26046395

Troy

560 E Cherry Street

None Beds

None Baths

9,630 Sq.Ft.

$1,150,000

MLS#: 26046395

 - property

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