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$265,000
Est. payment /mo
2,001 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,001 sqft
Price per Sqft $132
Subdivision Barry-Not In List
MLS Listing ID SOM60327703
Total Fin. Sqft 2001
Year Built 1900
Annual Tax Amount $442
Tax Year 2024
Lot Size 8,712 Sqft
Acres 0.2
Property Sub-Type Duplex
Source somo
Property Description
Cash-flowing investment opportunity with immediate income and value-add potential! This multi-unit property offers investors the opportunity to acquire an asset with existing rental income and significant upside through the renovation of a third unit.The property consists of three separate residential units: Unit 1: A detached 580 sq. ft. one-bedroom, one-bath cottage with a screened porch, currently leased at $725/month. Unit 2: A 450 sq. ft. studio apartment, currently leased at $725/month. Unit 3: A 971 sq. ft. two-bedroom apartment with central heat and air. The unit is currently vacant and requires a complete interior renovation but offers an estimated market rent of approximately $850/month once completed.Current gross rental income is $1,450/month, with a projected gross monthly income of approximately $2,300/month after renovation and lease-up of the third unit. Existing tenants have expressed a desire to remain, providing stable occupancy and immediate cash flow for the next owner.Additional improvements include an oversized attached one-car garage, a workshop/outbuilding, and a well-maintained exterior requiring minimal immediate attention. The property's strong curb appeal and established rental history make it an attractive long-term hold or portfolio addition.Whether you're looking to increase cash flow through light redevelopment, add doors to your portfolio, or capitalize on a partially stabilized asset with upside, this property presents an excellent investment opportunity.Please do not disturb tenants. Units 1 and 2 are tenant occupied. A minimum 24-hour notice is required for all showings.
Location
State MO
County Barry
Zoning Multi-Family
Direction Headed South on Central Ave in Monett. Home is on the right.
Interior
Heating Other
Cooling Other - See Remarks
Fireplace No
Heat Source Other
Exterior
Waterfront Description None
View Y/N No
Building
Sewer Public Sewer
Water City
Schools
Elementary Schools Monett
Middle Schools Monett
High Schools Monett
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Listed by Rebekah K. Jones Epique Realty
Nearby Locations
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Tim Hawley
Owner - Lead Agent | License ID: 2016007636
Owner - Lead Agent License ID: 2016007636