515 Nebraska Ave
West Plains, MO 65775
Immeuble residentiel Bien À vendre · 8 Lots

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!