515 Nebraska Ave, West Plains, MO 65775

For Sale – Income-Producing Multi-Unit Property in West Plains, MO!

Prime Investment Opportunity in Howell County

Discover a brand-new multi-family investment property at 515 Nebraska Street, West Plains, MO! This former church has been fully converted into eight modern apartments, offering high-quality finishes, excellent location, and strong income potential.

Property Features (Largest to Smallest Units):

One (1) unit – 850 sq. ft. | 2 Bed / 2 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck

Four (4) units – 600 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck

Two (2) units – 550 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck

One (1) unit – 450 sq. ft. | 1 Bed / 1 Bath | Open concept, Luxury Vinyl Flooring, Quartz Countertops, Private Deck

Spacious parking lot and outdoor green space

Situated on a .48-acre lot in a quiet neighborhood

Prime Location – High Rental Demand!

Property Highlights:

· Fully remodeled 7-unit apartment complex – turnkey and like new

· Strong income producer with estimated 9.5%cap rate

· Units include one 2-bed unit ($1,200/month), four 1-bed units ($1,000/month), and one small unit ($959/month)

· Seventh unit is an active Airbnb generating approximately $21,900/year at $80-$125/night

· Gross annual rental income: approximately $95,800

· Net Operating Income (NOI): approximately $76,000

· All units include appliances

· Owner pays utilities and property taxes

· Includes Airbnb management potential or option to convert to long-term rental

· Excellent investment opportunity with low maintenance and high demand rental units

· Priced at $799,900 – potential for upside depending on rental mix

Located in West Plains, Missouri, this property is just minutes from:

Missouri State University - West Plains

Downtown West Plains

Ozarks Healthcare

Restaurants, shopping, and essential amenities

Turnkey Investment – Strong ROI Potential

New Construction – Modern Features

Fully Income-Producing or Investment Opportunity

Annual Property Tax: $2,000

Annual Insurance: $2,000

Each unit has separate electric, water, and internet connections

This multi-family property for sale in Howell County, Missouri, is an excellent addition to any real estate portfolio. Whether you’re looking for a turnkey rental investment or an income-generating property, this one checks all the boxes!

📞 Call today to schedule a showing or for more details!