735 South AveSpringfield, MO 65806

This exceptional Class A, 12-unit apartment building, completed in November 2023, presents a compelling investment opportunity. Located at 735 South Ave in Springfield, Missouri (65806), this property boasts a prime location near Missouri State University and Downtown Springfield, ensuring high occupancy rates. The building comprises three stories and sits on a 0.45-acre lot, encompassing a total of 10,434 square feet. Each of the twelve units features a spacious 2-bedroom, 2-bathroom layout, approximately 807 square feet, with modern amenities including stainless steel appliances, granite countertops, LVT flooring, and washer/dryer hookups. On-site parking is provided for residents' convenience. Tenants are responsible for their own utilities. The property currently enjoys 100% occupancy, generating a substantial net operating income (NOI) of $130,007, resulting in a 6.60% cap rate. Monthly rents range from $1,195 to $1,295 per unit. The asking price is $1,970,000, translating to $189 per square foot and $164,167 per unit. This stabilized investment offers a strong return and significant potential for future growth. Financial projections are based on current market data and rental income. The property is ready for immediate ownership and income generation.